Shanghai Nonferrous Metals News
As of 26th May, SMM data shows domestic primary aluminum smelters having full averaged production costs of RMB12,472/t, seeing profit margins increase to RMB888.4/t – thanks to rising spot aluminium prices and declining raw material costs. Domestic aluminium smelters now have positive margins, reversing losses of RMB2,093/t on average incurred when prices dropped to a low point in mid-March.
Spot primary aluminium prices have been rising rapidly since late March, leveraging up SHFE aluminium prices and opening an aluminium import arbitrage window in May.
