SHANGHAI, Jul. 17 (SMM) – Rising aluminum prices and falling alumina prices allowed profit to expand significantly at aluminum smelters in China.
Chalco Raises Aluminum Prices Further After Dramatic Hike
The SMM average spot aluminum price advanced 86 yuan/tonne on a weekly basis to 13,988 yuan/tonne last week, while the weighted average alumina price in four major markets dropped 61 yuan/tonne to 2,552 yuan/tonne as of July 14. Profit surged to above 1,100 yuan/tonne at smelters surveyed by SMM.
Tug-of-War between Australian Alumina Suppliers and Chinese Buyers, SMM Reports
In the short term, SMM expects aluminum costs to fall further since there is still room to drop for alumina prices.
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