SHANGHAI, Aug. 2 (SMM) – Alumina producers in south and north China have totally different views over alumina price outlook, SMM learned.
Aluminum Production Cuts Send Ripple Effects, SMM Reports
Optimism is growing in south China in anticipation of aluminum capacity commissioning and since closures of illegal aluminum capacity are concentrated in north China.
By contrast, shutdowns of illegal aluminum capacity triggered strong bearishness in north China.
The weighted average alumina price in domestic four major markets dropped 16 yuan/tonne week-on-week to 2,526 yuan/tonne as of July 28, SMM data showed.
SMM sees a good chance for alumina prices to fall further this week.
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