SHANGHAI, Jul. 17 (SMM) – Massive aluminum capacity cuts might trigger oversupply in alumina market in the short term and thus put downward pressure on alumina prices, SMM expects.
Weiqiao Group cut aluminum capacity by 480,000 tonnes last week, and it is said Shandong will slash aluminum capacity by 2 million tonnes. The government may take a tougher attitude toward capacity cuts than expected, boding ill for alumina market, SMM explained.
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