Scrapex Banner
Author: 06 Jun 2013 Last updated at 07:08:49 GMT

China's top producer announces 9% cut in aluminum production

SHANGHAI (Scrap Monster) : Weak aluminum prices have forced Chalco- the top Chinese aluminum producer to cut the production by 9%. The company has announced temporary shutdown of facilities in China.

Chalco ( Aluminum Corporation of China) in its regulatory filing submitted to the Securities and Exchange Commission states that it will cut around 380,000 metric tons aluminum facility. However, Chalco has not listed out the names of facilities that would be closed.

The other big industry players like Rusal and Alcoa had earlier announced their decision to significantly cut down production due to weakening prices and falling demand. Rusal-world’s largest producer of the metal had earlier announced to downsize production by 300,000 metric tons by 2013. The company also is seriously planning to permanently shut down 275,000 metric tons facilities by 2015 end. Recently, Alcoa announced 15-month review programme to identify loss-making units and announced production cuts to the range of 460,000 metric tons.

The global aluminum market is seen passing through tough times as the price has fallen drasticallyin the recent past. Moreover, the global market surplus situation is anticipated to worsen further. Chalco had reported a net loss in operations the previous year mainly due to the narrowing demand and falling prices.

METAL PRICE CHARTS

GET PRICE CHARTS

9ct Gold Scrap Price Charts

Silver Scrap Price Charts

22ct Gold Scrap Price Charts

RELATED NEWS

N.J. lawmakers seek to quell rampant metal theft

September 19th 2014 11:17 AM
N.J. lawmakers seek to quell rampant metal theft
New Jersey lawmakers on Thursday advanced a bill they said would crack down on the looting of metal from fixtures…

Stolen Scrap Metal Leads To Drug, Weapons Charges

September 19th 2014 11:14 AM
Stolen Scrap Metal Leads To Drug, Weapons Charges
Two Fulton County men have been arrested for possession of stolen scrap metal from a business in Montgomery County

Indonesia's scrap imports down 20% during Jan-May '14

September 19th 2014 07:47 AM
Indonesia's scrap imports down 20% during Jan-May '14
According to recent government statistics, Indonesian scrap imports declined significantly during the initial five months of the current year

Scrap imports by Vietnam see huge drop in Aug '14

September 19th 2014 04:52 AM
Scrap imports by Vietnam see huge drop in Aug '14
The most recently released trade data indicates that scrap imports by Vietnam during the month of August
Scrap Item Price Unit
6063 Extrusions 0.83 $US / Lb
Zorba 90% NF 0.73 $US / Lb
6061 Extrusions 0.81 $US / Lb
Old Sheet 0.71 $US / Lb
Al/Cu Radiators 1.65 $US / Lb
Old Cast 0.72 $US / Lb
Next Story