13 JULY 2017AlCircle.com
SMM advises investors to avoid overt optimism post Shandong’s aluminium production cut
Edited by : Heena Iqbal
1 min read
<p>If reports are to be believed, China’s Shandong will cut the production of aluminium by over 2 million tonnes. According to the latest news published by Shanghai Metals Market (SMM), China’s aluminium giant Shandong Weiqiao is expected to slash its aluminium production by 1.4 million tonnes.</p>
<p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/primary%20aluminium.JPG" alt="news" width="448" height="300" /></p>
<p>Xinfa Group is estimated to cut 600,000 tonnes of aluminium. SMM cautions investors to refrain from overt optimism following the news of the production cut.</p>
<p>It is projected that there will be more than 3 million tonnes per annum of legal aluminium capacity under construction during 2017-2018. Aluminium capacity of about one million tonnes per annum will come online in the second half of this year.</p>
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<p>Recently, Shandong Weiqiao Group announced that it will cut aluminium capacity by 250,000 tonnes. This decision comes as a huge boost to the government’s aluminium supply side reform initiatives.</p>
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