Aluminum production in China continued to grow in the month of February. National Bureau of Statistics said that the total Aluminium production was 1.73 million tonnes, up 11% from February 2012. The total production of Aluminium in Jan-Feb 13 was 3.51 million tonnes, down 15% from last year.
A recent report from Beijing Antaike has citied reasons of higher production from new capacity from western region in China. The production of Aluminium in China is expected to reach 25 million tonnes in 2013 from earlier forecast of 24 million tonnes and a rise of 12.3% from 22.3 million tonnes in 2012.
Weak Aluminum prices have forced major smelters to cut back their production barring those that have facilities in western China where the production costs are much lower.
On LME, Aluminium was trading at $ 1958 per tonne on Tuesday, up $ 18 per tonne from last night. MCX Aluminium March expiry was seen trading at Rs 104.8 per kg, Source by Commodity Insights
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