Aluminum prices hit a wall Chinese exports this year and at the lowest level in six years. However, although the incentive for Chinese companies to export metal undoubtedly declined, the market remains in a status of supply because no producer is willing to reduce paragogi.
I global aluminum supply increased 10.3% over the first half of the year, according with Aluminium Institute. In China, although there are padlocks, many small smelters increased their production, according to the Consultative CRU, with production in the western region of Xinjiang to increase 36.5% in July.
“We believe that the road to the aluminum will probably be very sore, given the enormous overproduction built even built in China,” said Investec. “The new Chinese foundries are works of art and have very low production costs.