Chief Executive Officer of Concord: rising costs squeeze profits of Aluminum Enterprises-Shanghai Metals Market

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Chief Executive Officer of Concord: rising costs squeeze profits of Aluminum Enterprises

Translation 01:15:27PM Oct 11, 2018 Source:SMM
The content below was translated by Tencent automatically for reference.

The sharp fluctuations in the alumina market have led to higher costs and lower profits for aluminum producers.

Hansen said the turmoil in the alumina market has been a wake-up call for the aluminum industry. Commodity prices fluctuated sharply after hitting a record high in April.

Aluminium producers are under great pressure. Rio Tinto, from Rio de Janeiro, suffered heavy losses from alumina contracts. It is estimated that the contract cost of alumina for Rio Tinto (AllotTutoGroup) in the first half of the year is estimated at US $200m.

Chinalco delayed its original IPO plan. It is reported that 2/5 of alumina and aluminum smelters are currently unprofitable.

Key Words:  Concord  CEO  cost  aluminum company  profit 

Chief Executive Officer of Concord: rising costs squeeze profits of Aluminum Enterprises

Translation 01:15:27PM Oct 11, 2018 Source:SMM
The content below was translated by Tencent automatically for reference.

The sharp fluctuations in the alumina market have led to higher costs and lower profits for aluminum producers.

Hansen said the turmoil in the alumina market has been a wake-up call for the aluminum industry. Commodity prices fluctuated sharply after hitting a record high in April.

Aluminium producers are under great pressure. Rio Tinto, from Rio de Janeiro, suffered heavy losses from alumina contracts. It is estimated that the contract cost of alumina for Rio Tinto (AllotTutoGroup) in the first half of the year is estimated at US $200m.

Chinalco delayed its original IPO plan. It is reported that 2/5 of alumina and aluminum smelters are currently unprofitable.

Key Words:  Concord  CEO  cost  aluminum company  profit