SHANGHAI, Jul. 17 (SMM) – Rising aluminum prices and falling alumina prices allowed profit to expand significantly at aluminum smelters in China.
The SMM average spot aluminum price advanced 86 yuan/tonne on a weekly basis to 13,988 yuan/tonne last week, while the weighted average alumina price in four major markets dropped 61 yuan/tonne to 2,552 yuan/tonne as of July 14. Profit surged to above 1,100 yuan/tonne at smelters surveyed by SMM.
In the short term, SMM expects aluminum costs to fall further since there is still room to drop for alumina prices.
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