China’s Aluminum Industry Fulfilled “Industry-wide Profit-Earning”

From January to August this year, nationwide aluminum enterprises above designated size fulfilled 48.2 billion yuan of profit, wherein aluminum smelting enterprises recorded 9.1 billion yuan of profit, which initially reversed industry-wide loss at the end of last year.

According to news report published on October 27, Chen Quanxun, Chairman of China Nonferrous Metals Industry Association, said at the “China International Aluminum Industry Forum 2016” in Nanning, profit-earning of aluminum industry mainly benefits from rebound of aluminum price, by the end of September, Shanghai Futures Exchange (SHFE) 3-month future aluminum price is about 12000 yuan/tonne, up by about 20% than the beginning of the year.

Performance rally also benefits from enterprise self discipline, according to estimate of the China Nonferrous Metals industry Association, by the end of 2015, total domestic shutdown electrolytic aluminum capacity reached 8.15 million tonnes. Wherein, permanent shutdown capacity is 3.36 million tonnes, completed but unlaunched capacity is 1.28 million tonnes, capacity which implements flexible production is 3.51 million tonnes. From January to September, electrolytic aluminum output is 23.44 million tonnes, down by 1.4% on Y-o-Y basis, marking Y-o-Y decline for 9 consecutive months.

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