China’s Chalco to close 380,000 tonnes of aluminium capacity

Chalco, China’s top producer of aluminium, joined other companies on Wednesday in cutting capacity to help trim a market surplus after it suffered losses due to weak prices.

The Aluminum Corp of China said in a statement it would temporarily close 380,000 tonnes of annual capacity due to market conditions.

The shutdown represents 9 per cent of its annual output of primary aluminium products of 4.22 million tonnes last year, according to the firm’s annual report on its website.

via Business feed http://www.scmp.com/business/commodities/article/1254622/chinas-chalco-close-380000-tonnes-aluminium-capacity