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Global aluminium prices to stay firm on China closures, European demand

Crackdown on old, polluting smelters by China govt will see 4 mt (10%) of aluminium capacity going offline this winter

aluminium

The closure of excess aluminium smelter capacities and a pick up in demand for the metal in the European markets would support higher prices in the rest of the current financial year (FY). Aluminium prices on the London Metal Exchange (LME) are ruling at multi-year highs of $2100 per tonne. An industry outlook report by Care Ratings has predicted average aluminium prices to hover in the range of $1900-2100 in the remainder of FY18. "The crackdown on old, polluting smelters by the China government will see four million tonnes (around 10 per cent) of aluminium capacity going ...