Guanlu restarts 40000 tonnes of aluminum capacity
Thursday, 05 Nov 2009
Reuters reported that China's Shanxi Guanlu had restarted 40,000 tonnes aluminum production line as the market improves and aluminum prices rise.
The company shut down the production line, which accounts for 36.4% of its total production capacity in January when the aluminum market was hit by the international financial crisis. The company has 110,000 tonnes of primary aluminum capacity.
The company said that the restarted production line is expected to produce 7,300 tonnes of aluminum in 2009. 3 month aluminum futures contracts on the London Metal Exchange MAL3 have risen 25% so far 2009 but still lag a strong rally in copper that doubled prices.
(Sourced from Reuters)
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