The week has seen a few major happenings in the primary aluminium industry. Hindalco has created stir in Indian market by launching QIP.
According to a Bloomberg News report, China has ordered aluminium producers to curtain their production capacity in 28 cities during winter months as Beijing has been facing smog problems for years. China has also ordered steel producer to cut their production capacity.
The China has ordered to slash production capacity on aluminium and alumina by more than 30 percent, according to the order issued by authorities including the Ministry of Environmental Protection (MEP) and the National Development and Reform Commission.
The China has come up with this order after the MEP’s proposal, in a draft policy document seen by Reuters that would be among Beijing’s most radical moves so far to tackle air quality in the country’s most polluted cities.