As per the reports in the media, aluminium producers in China are expected to cut aluminium smelting capacity of 800,000 tonner per annum in the coming months.
As per the report, Antaike, which is the research arm of China Nonferrous Metals Industry Association (CNIA), had organized meeting with key smelters in China, including China Hongqiao Group, Aluminum Corp of China Ltd, or Chalco, Xinfa Group, Hangzhou Jinjiang Group and East Hope. These organizations have collectively decided to cut capacities in the coming months.
The decision has been taken on accoint of low aluminium prices market and declining demand for the metal in China.
So far, the smelters have closed over 3.2 million tonnes per annum capacity in 2018.