Delegates at MB's 6th Chinese Aluminium conference last week would have been forgiven for expecting two days of doom and gloom. China's aluminium market is in a shocking state; nearly all producers are losing money, stocks are high and demand is weak. Chalco, the country's largest aluminium producer, is apparently considering an extension to production cutbacks to more than 50 percent of capacity. Asked "How's business?", the usual answer from delegates was: "What business?" But despite the dire backdrop, the mood was curiously upbeat.
展开▼
