Chinese marginal producers start to yield to price pressures

摘要

The depressed LME price has yet to force curtailments of high cost smelting capacity in the world ex. China. In 2012, when the LME aluminium price fell, the majors were the first to respond, but they have less room to cut in 2013. Thus far in 2013, low prices have forced the bankruptcy of Ormet, the owner of the 270,000 tpy Hannibal smelter.