Market participants had been bullish about the Chinese alumina price due to reduced production during the height of the novel coronavirus (2019-nCoV) outbreak in the country early this year. Smelters had removed almost 6 million tonnes of alumina production in northern Chinese regions, equating to roughly 9% of China’s operating capacity, due to a shortage of raw materials and a reduced workforce during travel restrictions.
SHFE aluminium prices have been on a downtrend in February, falling to 13,060 yuan ($1,881) per tonne on February 28 before recovering to...
