Chinese Aluminium Smelters’ Profits Expand

SHANGHAI, Jul 4 (SMM) – Last week, China's aluminium cost slightly increased due to a rumoured mine shutdown in Henan and news about aluminium smelters resuming production, which lifted alumina prices slightly, with the SMM alumina price index marking a 3 yuan/mt increase from the previous week. Further, a major aluminium smelter in Shandong disclosed July's prebaked anode benchmark purchase price kept constant at 4225 yuan/mt. SMM and other raw and ancillary material prices held steady. By last week's end, Chinese aluminium smelters’ real-time full cost had climbed by 5.7 yuan/mt to roughly 15,947 yuan/mt. SMM A00 aluminium ingot price recorded at 18,540 yuan/mt last Friday. Smelters’ profit rose 64 yuan/mt to 2,593 yuan/mt.