SHANGHAI, Jun. 28 (SMM) – Shandong Weiqiao Group, China’s aluminum giant, announced to cut aluminum capacity by 250,000 tonnes a few days ago.
The cutbacks, though small, suggest the Chinese government will continue pushing for aluminum supply side reform, SMM believes.
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The reform will proceed much longer than expected, though, SMM understands.
On the one hand, the government has called an immediate halt to illegal aluminum capacity already existed and under construction. On the other hand, the government allows commissioning and restarts of legal capacity.
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At the same time, illegal projects under operation that meet certain requirements could be put on file in accordance with regulations.
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