China Downhold Aluminum Production Capacity--Good Outweighs Harm

HongKong, Sep 30th: China has decided to ban the next three years' building of new aluminum smelters and downhold the aluminium production capacity of the inefficient smelters. in response to this action, the traders indicated that there will be more advantages than disadvantages for the results of this action.

China is the world's largest aluminum producer and consumer.

On Tuesday, State Department released new provisions, which aims to suppress the surplus capacity of the steel, cement, plate glass and coal chemical industries.

After that, 0055 GMT,  LME 3-month aluminum price raised by 1 dollar and closed at 1,853 dollar/ton.

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