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Chinese manufacturers have announced production cuts of aluminium

13 June 2013
Chinese manufacturers have announced production cuts of aluminium

«Aluminum Corp of China», which is leading in China

aluminium producer, recently stated its intention to reduce the amount

the production of «winged» metal to 380 tons because of the situation on

market.

To date, «Aluminum Corp of China» — not

the only company in the world, receiving such a decision in response to the fall

prices for their products. For example, Russian «Rusal» in the beginning of this

decreased production of the resource by 4%. Alcoa, the largest U.S.

aluminum producer, also plans within six years to reduce the amount produced

products in 460 thousand tons. In the past year, «Aluminum Corp of China»,

in view of the current situation, has suffered a loss of more than $ 1.3 billion, and

in late spring of this year the price of aluminum dropped to unprecedented magnitude —

1.8 thousand dollars per ton.

As stated in the statement of the expert «UC Rusal» published

the Russian media a few weeks earlier, changes in the market aluminum

production is not feasible without a significant reduction in the volume of production of all

participants of the market. «Our company is at the beginning of this year took

appropriate measures, however, they will not produce the desired result without support

Chinese manufacturers» — it is told in the message of representatives of «RUSAL».

Meanwhile, experts of the securities market focus

investors in the special situations in the aluminium sector. «In view of the prevailing adverse

environment, recently there has been a decrease of stock exchange quotations of shares

the world’s leading manufacturers of „winged“ metal. The Russian players

market in this matter carries much less than their foreign colleagues. So,

for example, securities the above mentioned American company Alcoa fell

price since the beginning of the year only a little more than 3%, whereas the shares of „Rusal“ for

about the same time fell by almost a third» — sharing observations

analysts.

11 June 2013
17 June 2013