SHFE Aluminum Soars after Much-Higher-than-Expected Cut Rumor at China Hongqiao

Published: Aug 02, 2017 14:12 (GMT+8)

Save

SHFE aluminum gained almost 2.5% just now following rumor that China Hongqiao Group will shut down 2.6 million tonnes of aluminum capacity.

SHANGHAI, Aug. 2 (SMM) – SHFE aluminum gained almost 2.5% just now following rumor that China Hongqiao Group will shut down 2.6 million tonnes of aluminum capacity.

When Will China Aluminum Stocks Peak After Hitting Record High? SMM Reports

According to the rumor, the closure, which is much higher than 1.4 million tonnes market had expected, will be completed before October 15.

SMM Analysis of Shandong Alumina and Aluminum Capacity Cut Policy

The company has made no comments so far.

The cuts will not exceed 2 million tonnes since the company’s aluminum capacity is not that much, SMM estimates. SMM will track the latest development.

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.

China Hongqiao Group china aluminum capacity

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

8 mins ago

[Aluminum billet inventory consolidates at highs; production cuts in Guangxi and Xinjiang, coupled with falling aluminum prices, lead to regional divergence in processing fees [SMM Analysis]]

According to SMM statistics, as of September 30, aluminum billet inventory in major consuming areas in China recorded 149,500 mt, an inventory buildup of 500 mt WoW from last Thursday and a destocking of 5,000 mt from this Monday, with inventory consolidating at highs and basically flat overall.

8 mins ago

12 mins ago

【SMM Aluminum Flash News】RUSAL seeks buyers for Windalco after 1.57 Mt of bauxite, 396,000 tonnes of alumina output

Russia-based aluminium producer RUSAL is exploring a potential sale of its Windalco bauxite and alumina operations in Jamaica, signalling a possible reshaping of its Caribbean footprint. The reported move also extends to its bauxite interests in Guyana, although both potential transactions remain at an early stage and may not ultimately proceed. Windalco comprises the Ewarton alumina refinery in St Catherine, bauxite mines and the Port Esquivel shipping terminal. According to RUSAL’s 2025 annual report, the Jamaican operation produced 1.565 million tonnes of bauxite and 396,000 tonnes of alumina in 2025. The alumina output represented less than 6 per cent of RUSAL’s total alumina production of 6.858 million tonnes during the year.

12 mins ago

18 mins ago

Nanchang Aluminum Billet Processing Fees Jump on September 30

On September 30, Nanchang aluminum billet Φ90 was quoted at RMB 24,360/t, with processing fee at RMB 330/t (up RMB 100 from the previous trading day); Φ120 at RMB 24,280/t, with processing fee at RMB 250/t (up RMB 100); Φ178 at RMB 24,280/t, with processing fee at RMB 250/t (up RMB 100). SMM A00 aluminum spot stood at RMB 24,030/t.

18 mins ago