Several of China's top smelters agreed to reduce another 800,000 tonnes of aluminium capacity in the coming days, Fastmarkets learned from the conference held in Nanning, Guangxi province in China on Friday December 21.
Chalco, China Hongqiao, Hangzhou Jinjiang Group, Xinfa Group, East Hope and State Power Investment were reported to attend the conference, which aimed to lift confidence in the aluminium industry and in turn added pressure to low prices and negative margins.Chalco and Hangzhou Jinjiang Group confirmed the quantity, saying it was decided by leading producers who launched the conference."The conference delegates decided to cut another 800,000 tonnes of aluminium production capacity in the coming months with no specific time...