First Look - Chinese smelters cut aluminum output on raw material squeeze

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• LME Aluminum Select 3M Select trades $37.50 higher at $2,647.00/mt (10:00 AM CDT)
  • Aluminum smelters in China are cutting output due to the yearlong rally in alumina prices. The margin squeeze could be exacerbated soon by higher electricity prices, with the winter dry season beginning and cutting hydro output. Lower aluminum output should support global aluminum prices, with China being the largest producer of the metal.
• LME Copper 3M Select trades $15.00 lower at $9,098.00/mt
• CME HRC Steel last traded at $686/st, down $4

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