China’s aluminum prices to rise steadily in H1 2021: Henan Shenhuo chairman
China’s aluminum prices will rise steadily and domestic smelters will continue to enjoy healthy profit margins in the first half of 2021 thanks to production curbs and destocking driven by economic recovery and strong demand, Henan Shenhuo Group’s chairman Li Wei said on the sidelines of the National People’s Congress and the Chinese People’s Political Consultative Conference, otherwise known as the two sessions.
On the supply side, the ceiling for China’s primary aluminum capacity has been set at about 45 million mt/year under the supply side reform, while power supply and environmental protection measures will impact the progress of new capacities.