Rome Not Built in One Day, SMM Analysis of China Aluminum Cuts

Published: Jul 19, 2017 16:51

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Despite large size of the latest round of aluminum output cuts in China, the process might take at least more than four weeks to be completed, SMM estimates.

SHANGHAI, Jul. 19 (SMM) – Despite large size of the latest round of aluminum output cuts in China, the process might take at least more than four weeks to be completed, SMM estimates.

SMM Data: China Aluminum Output Grows in June

Moreover, new and restarted capacity is still under way, which will be released after eight weeks.

Given the lack of more speculative events, aluminum prices will now be subject to market fundamentals.

SMM: China Aluminum Stocks Hit Over 4-Year High

Current production cuts will be insufficient to reverse supply surplus for this year. Mounting stocks will weigh down aluminum prices in the medium term, SMM warns.

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