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06 JULY 2020 AL CIRCLE

Alumina price increased on news of Chalco alumina production cuts

EDITED BY : HEENA IQBAL 1MINS READ

The alumina prices in China increased last week after Chalco announced it would cut alumina production.  

Alumina prices rose RMB 46 per tonne from thursday to RMB2,333 per tonne in the week ended July 3, according to SMM assessments. Alumina price trended higher over the week. Profit recovery at downstream is spreading to the alumina industry, which is one of the major drivers of the recent rally in alumina prices, Shanghai Metals Market believes.

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Chalco said it would implement “flexible production” at three alumina production lines in accordance with market conditions. Flexible production is a phrase used to refer to output cuts.

The three refineries, at subsidiaries Shanxi Huaxing and Shanxi New Material in northern China’s Shanxi province, represent about 10% of the company total capacity. The plants have total capacity of 1.8 million tonnes per year, state-run Chalco said in a Shanghai Stock Exchange filing.

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Chalco, which has an annual capacity of 18.86 million tonnes, produced 13.8 million tonnes in 2019.


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EDITED BY : HEENA IQBAL 1MINS READ

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