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Profits of Smelters Improved amid Falling Costs

iconAug 15, 2022 14:30
Source:SMM
SHANGHAI, Aug 15 (SMM) - In terms of costs, alumina prices fell last week, while electricity prices were largely stable.

SHANGHAI, Aug 15 (SMM) - In terms of costs, alumina prices fell last week, while electricity prices were largely stable. Considering that most aluminium smelters have reduced the power consumption of their molten aluminium production through technical transformation, SMM lowered the average power consumption in the aluminium industry to 13,600 kWh/mt, which is expected to continue to fall in the future. The real-time cost of smelters slid 55.5 yuan/mt from a week ago to 17,829.5 yuan/mt as of last Friday, while the real-time profit expanded 205.5 yuan/mt to 840.5 yuan/mt thanks to lower costs and higher aluminium prices. The SMM A00 aluminium prices stood at 18,670 yuan/mt. On the whole, the prices of raw materials and auxiliary materials may fluctuate within a narrow range, while electricity prices will depend on the changes in coal price. Smelters’ costs will remain high in the short term.

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