Aluminum Holds Loss as China Puts Smelters Into Overdrive (opens original article in a new tab)

Aluminum prices stabilized near their lowest since March as China's increased production and potential Middle East smelter recovery impact the global market.

• Aluminum prices steadied near their lowest since March due to increased Chinese production and potential Middle East smelter recovery
• China's primary aluminum production hit a monthly record in May, exceeding government capacity caps
• Analysts note Chinese smelters are operating at historically high utilization levels with limited supply elasticity
• China's smelters are producing beyond nameplate specifications, aided by more energy-efficient technology
• Potential US-Iran deal could lead to Middle East aluminum industry recovery, affecting global market dynamics