China Aluminum Output Continuous Up, Price Move in Downtrend

(China Aluminum Network) Aluminum output reached 1,680 thousand tons in May increased 9% and 14% when compared with April and January respectively. The aluminum consumption growth rate may hit the floor level in three years in China, owing to government restrictive measures. Smelters have decided to reduce production. Tuesday settlement price of aluminum futures dropped 2.4% to 15,170 yuan/ton in Shanghai Futures Exchange. Analysts said market anticipation leaded aluminum price decrease, aluminum supply volume will increase after the implementation of preferential policy in Henan.

China aluminum output kept rising in recent months, more than 15% of aluminum capacity have shut down since this year. The lastest preferential policy means government was trying to change former practices to avoid large-scale layoff. Electroplated aluminum output occupied about a quarter of the whole output in China. This year’s domestic aluminum price was lower than 2011 which was over 18,000 yuan/ton.

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