PRN: CRU: Making Sense of Chinese Aluminium Smelter Closures

22/ago/2017 10:00:30 PR Newswire Turismo Contatta l'autore

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CRU: Making Sense of Chinese Aluminium Smelter Closures

 
[22-August-2017]
 

LONDON, August 22, 2017 /PRNewswire/ --

On 09 August the SHFE aluminium cash price soared to over RMB16,000 /t, its highest level since 2012. The move came after Shandong ordered 3.2Mtpy of illegal smelting capacity to close.

     (Logo: http://mma.prnewswire.com/media/536199/CRU_Logo.jpg )

This was the third province to make such announcements, but the SHFE and LME aluminium price reaction was much larger than after the previous announcements from Xinjiang and Inner Mongolia.

In this Insight, we detail the announced Chinese aluminium smelter closures and the impact on 2017 and 2018 production. In addition, we compare the very latest closure expectations to the Chinese closures and total Chinese production set out in CRU's July 2017 Aluminium Market Outlook.

Announced aluminium smelter closures by region 

Xinjiang
Xinjiang was the first province to order smelters to close capacity, in April the Changji County government stated two million tonnes per year of planned or operational illegal capacity must halt construction or close. Since that announcement 500,000tpy of operational capacity has closed. There are two plants in the province that have been ordered to close illegal capacity:

  • Xinjiang East Hope has been ordered to close 800,000tpy of operational capacity, and by mid-August 300,000tpy of this capacity has been closed.
  • Xinjiang Jiarun has been ordered to close 200,000tpy of operational capacity; this closure was completed in June.

Read the full story: http://bit.ly/Chinese-smelter-closures

Read more about CRU: http://bit.ly/About_CRU

About CRU
CRU offers unrivalled business intelligence on the global metals, mining and fertilizer industries through market analysis, price assessments, consultancy and events.

Since our foundation in 1969, we have consistently invested in primary research and robust methodologies, and developed expert teams in key locations worldwide, including in hard-to-reach markets such as China. CRU employs over 250 experts and has more than 10 offices around the world, in Europe, the Americas, China, Asia and Australia - our office in Beijing opened in 2004.

When facing critical business decisions, you can rely on this first-hand knowledge to give you a complete view on a commodity market. And you can engage with our experts directly, for the full picture and a personalised response.

CRU - big enough to deliver a high quality service, small enough to care about all of our customers.

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