In absolute terms, China’s August aluminum production is the lowest since April 2016—if we ignore February 2017 when production fell due to fewer days and China’s Lunar New Year holidays. It’s the first time since August 2016 that China’s aluminum production has registered a yearly fall.

China’s smelting cuts were aimed for the fourth quarter to lower the country’s pollution levels during the winter months.  Lower production and high price will invite  fewer exports. 

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