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

Published: Aug 2, 2017 14:12

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 to learn 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

Apr 30, 2026 23:57

【SMM Aluminum Flash News】Hydro Reports Q1 2026 EBITDA of NOK 8.668B, Down from Last Year but Profitability Strong

According to Hydro's official website, Hydro's adjusted EBITDA for the first quarter of 2026 was NOK 8.668 billion, lower than NOK 9.516 billion in the same period last year. This was mainly due to lower raw material costs, higher metal prices, and increased sales of alumina and metals, but this was partially offset by lower alumina prices, a stronger NOK, and lower electricity generation. Hydro's profitability was strong this quarter, with adjusted earnings per share increasing to NOK 2.07 in the first quarter of 2026, compared to NOK 1.63 in the first quarter of 2025. The upstream business segment continued to operate strongly in the first quarter.

Apr 30, 2026 23:57

Apr 30, 2026 23:56

【SMM Aluminum Flash News】Hesheng Co. Reports 20.34% Revenue Growth, 92.47% Net Profit Surge in 2025 Annual Report

Hesheng Co., Ltd. disclosed its 2025 annual report on April 29. In 2025, the company achieved total operating revenue of 4.011 billion yuan, a year-on-year increase of 20.34%; net profit attributable to the parent company was 155 million yuan, a year-on-year increase of 92.47%.

Apr 30, 2026 23:56

Apr 30, 2026 23:55

【SMM Aluminum Flash News】Jiaozuo Wanfang Reports 18.49% Revenue Growth, Net Profit Surges 216.46% in Q1 2026

Jiaozuo Wanfang announced that its operating revenue for the first quarter of 2026 was 1.757 billion yuan, a year-on-year increase of 18.49%. Net profit was 511 million yuan, a year-on-year increase of 216.46%.

Apr 30, 2026 23:55