Chalco cuts aluminium prices; China aluminium production to drop during winter heating season
China Aluminum International Trading Co. (Chalco Trading) cut aluminium prices it offered in major markets on Thursday, May 11.
The price details are as follows:
Unit: yuan/tonne
In another development, it is learnt that China might cut aluminium production by as much as 1-1.5 million tonnes during winter heating season, a high-ranking executive from Chalco said on May 4.
The heating season will start from November and last four months.
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China’s crackdowns on illegal aluminium capacity will affect capacity by 3-8 million tonnes, Lu Dongliang, Deputy President at Chalco said.
Aluminium consumption in China will grow 7-10% this year and the next and aluminium capacity in China will climb to 45 million tonnes by 2020, Lu added.
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