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Home / Metal News / Massive Output Cuts Not Enough to Reverse Oversupply in China Aluminum Market, SMM Says

Massive Output Cuts Not Enough to Reverse Oversupply in China Aluminum Market, SMM Says

iconAug 10, 2017 11:33
Source:SMM
Despite massive aluminum production cuts in China in July, the country’s aluminum supply is still in a surplus, SMM finds.

SHANGHAI, Aug. 10 (SMM) – Despite massive aluminum production cuts in China in July, the country’s aluminum supply is still in a surplus, SMM finds.

China Aluminum Output to Drop MoM in August as Cuts Outpace New Capacity, SMM Expects

Output cuts outpaced new capacity. Moreover, aluminum is needed for commissioning of new aluminum capacity. As such, market is beginning to feel the decline in aluminum ingot and liquid supply. That said, domestic market is still in oversupply, given poor downstream consumption. 

Breaking News: Weiqiao Group and Xinfa Group Ordered to Close Illegal Aluminum Capacity

As of August 7, aluminum ingot stocks in domestic five major markets totaled 1.33 million tonnes, up 116,000 tonnes from early July, SMM statistics showed.   

The oversupply will persist and aluminum stocks will continue growing, SMM predicts.   

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

China aluminum stocks
china aluminum capacity

For queries, please contact William Gu at williamgu@smm.cn

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

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