China’s new smelters set to swamp effort to dam aluminium flood

Aluminium smelters are set to open in China at a faster pace than producers there and worldwide shut loss-making plants to tackle a glut that keeps the metal’s prices weak.

So far this year, analysts estimate cutbacks in aluminium production have totalled as much as 700,000 tonnes in China, the world’s biggest consumer and producer, after prices shed more than 10 per cent since January.

via Business feed http://www.scmp.com/business/commodities/article/1215980/chinas-new-smelters-set-swamp-effort-dam-aluminium-flood