The Chinese government has so far this year ordered 4.3-million tonnes of aluminium capacity closures at smelters in Inner Mongolia, Shandong and Xinjiang, pointing to the potential for a global aluminium market deficit to emerge before year-end, the latest analysis from Bank of America Merrill Lynch (BofAML) Global Research has found.
After being range-bound between February and July, aluminium prices have rallied on a series of announced production curtailments in China.
