According to statistics, China’s electrolytic aluminum capacity was 23 million tons in 2010 and its actual production was 15.6 million tons. At the same time, the rate of equipment utilization was only at 70%.
However, Chinese aluminum smelters’ sales margin was only at 3.59% during January to November 2010 which was lower than that of other industries.
Recently, the Chinese electrolytic aluminum industry has still aimed to build new smelters in China despite of the oversupply and low demand from downstream.
Consequently, industry sources pointed out that the oversupply would depress the price hike for electrolytic aluminum.
It’s known that the 1108 contracts of electrolytic aluminum at Shanghai Futures Exchanges were at CNY 16, 935 per tonne on last Friday down by 0.27%.
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