China unstoppable at 2.69mt; August aluminium output continue growing

<p>China is simply not showing any signs of slowing down. The momentum at which the country has been churning out aluminium in the last several months is still continuing. Analysts at the Shanghai Metals Market (SMM) are of the opinion that aluminium production in the domestic market will grow further in August owing to the release of new and restarted aluminium smelting capacity. <br /><br />SMM estimates, China's total aluminium output will stand at 2.69 million tonnes in August, up from 2.68 million tonnes in July.<br /><br />Annualized operational aluminium capacity across China now totals 32.45 million tonnes, with overall utilization rate averaging 82.9 per cent in the industry, showed a recent SMM survey. <br /><br />China Aluminum International Trading Co. (Chalco Trading) further pared down aluminium prices it offered in major markets today, it announced online. &nbsp;<br /><br />Unit: yuan/tonne&nbsp; &nbsp;<br /><br /><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/Chalco%20cuts%20prices.png" alt="News" width="469" height="171" /><br /><br />Source: Shanghai Metals Market<br /><br />Note: Chalco Trading, a full subsidiary under Chalco, primarily deals in alumina and aluminium sales in domestic and international markets.</p>