China Nonferrous Metals News
Domestic primary aluminium smelters have relatively good profit margins at present, exceeding RMB 1,000/t for smelters in Shandong and Xinjiang. The increase can be attributed to declining alumina prices instead of rising aluminium prices.
As of 12th August, SHFE aluminium inventories had dropped by 41% or 12.2 kt to 391.5 kt from 403.7 kt on 9th August. Both LME and SHFE are destocking, indicative of improved downstream demand under current aluminium prices.
