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.
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.
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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