SHANGHAI, Jun. 19 (SMM) – Profit at aluminum smelters in China has been shrinking steadily of late, mainly as a result of falling aluminum prices.
NBS: China Alumina Output Jumps in May
SMM survey found profit had fallen to 200-400 yuan/tonne last week. The SMM average spot aluminum price slid 114 yuan/tonne on a weekly basis to 13,504 yuan/tonne.
Chalco Cuts Aluminum Prices in Major Markets on June 19
Notably, alumina prices will face downward pressure from recovering supply. Coal prices will remain low in the short term.
There is still room to fall for aluminum costs, SMM expects.
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