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The LME aluminium price continued its descent in August 2015 falling to a multi-year low of $1485/t mainly due to weaker demand growth expectations and relentless oversupply in China. The rapidly falling all-in-price is now cutting deeper into the cost curve forcing the industry to curtail production. Our analysis suggests that apart from the 1.2Mt curtailments from Chinese smelters in the top quartile in 2015, another 4.3Mt of Chinese production is vulnerable to temporary closures.
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Aluminium smelter cutbacks: kicking the can further down the road PDF - 539.02 KB 9 Pages, 1 Tables, 7 Figures
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This Metals Insight report highlights the key issues surrounding this topic, and draws out the implications for those involved.
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Insight | Aug 2015
Aluminium smelter cutbacks: kicking the can further down the road
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