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A false dawn for Chinese aluminium? Some think so

Reuters  |  BEIJING/MELBOURNE 

By Tom Daly and Melanie BurtonBEIJING/MELBOURNE (Reuters) - Chinese aluminium prices have skyrocketed amid a crackdown on overcapacity, but traders say final demand is weak and cuts may not be as big as expected. Trading data shows some are bracing for a correction.China, the world's largest producer of the metal, is forcing illegally built plants to close and pursuing others that have not met environmental targets as it pushes to clear its skies and shore up loss-making industries.Analysts see 3-4 million tonnes of smelting capacity closures this year, equal to about a tenth of China's ...

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First Published: Fri, August 11 2017. 12:57 IST
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