The poor outlook for aluminum prices could prompt more Chinese refiners to cut output
发布时间：
2021-03-30 19:10
Aluminum network comprehensive foreign news on May 17, CRU aluminum market analysts said that the poor outlook for aluminum prices or more Chinese aluminum refineries to cut output.
Marco Georgiou, director of CRU's primary aluminum and products division, said at the Global Aluminum Conference in London that due to oversupply in the global market, Chinese aluminum smelters have announced production cuts of about 1 million tons, and it is expected that Chinese aluminum smelters will further reduce capacity by about 2 million tons in 2015.
Marco Georgiou said that based on current Shanghai aluminum prices, about a third of China's primary aluminum producers, or 24 million tons of aluminum output a year, are losing money.
"The average price of aluminum in Shanghai in the next two years is expected to be 15,000 yuan per ton. www.xzwgly.com It would take a 5-10% decline in aluminum prices from current levels not to cause a supply correction.
If Chinese aluminum producers cut production, LME three-month aluminum prices are expected to move higher. Global aluminum demand is expected to increase modestly by 2015."
Aluminium stocks outside China have hit a high of more than 9m tonnes.
Marco Georgiou said that the current financing transactions in the aluminum market are expected to continue until 2015.
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