Anti-pollution efforts affect global aluminium outlook
Anti-pollution efforts affect global aluminium outlook
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The value of aluminium on the London Metal Exchange (LME) reached $1,907 per tonne (86.5 cents per pound) briefly during trading 14 February 2017. It was the highest value reached by the light metal since May 2015, according to a Reuters report.
The price rise came the day after reports about a policy under consideration in China to more intensely scrutinise emissions at steel mills and aluminium production plants.
In that policy’s first draft, according to an online report from Reuters, China’s Ministry of Environmental Protection (MEP) has proposed measures that could slash steel capacity by some 50% and aluminium capacity 30% in several different parts of China.
The northeast of China is a particular focus of the policy as it has been battling visibly high air pollution levels for several years.
The document outlines plans to cut steel and fertilizer capacity by at least half and aluminum capacity by at least 30% in 28 cities across five regions from around late November to late February.
The government scrutiny of aluminium production is being conducted in tandem with a widely reported public protest against a proposed aluminum plant in northern China.
According to an online report from the Financial Times, “mass protests” in the city of Daqing in Heilongjiang province have been directed against a proposed Zhongwang Holdings facility.
Opposition from citizens reportedly centers on potential air pollution and contamination of the city’s water supply. Water can periodically and seasonally be in tight supply in Heilongjiang province.
Zhongwang Holdings also is the subject of controversy in North America, where one media investigation is questioning whether members of its ownership group have been shipping aluminium in into the United States using methods that allow it to avoid customs duties. The principal owner of Zhongwang Holdings also has made a bid to acquire U.S.-based aluminium firm Aleris.
A protester quoted by the Financial Times comments, “If the government does not truly stop construction then we will continue to protest. I have never protested against the government before.”
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Source: Recycling Today
Anti-pollution efforts affect global aluminium outlook
<![CDATA[The value of aluminium on the London Metal Exchange (LME) reached $1,907 per tonne (86.5 cents per pound) briefly during trading 14 February 2017. It was the highest value reached by the light metal since May 2015, according to a Reuters report. The price rise came the day after reports about a policy under consideration in China to more intensely scrutinise emissions at steel mills and aluminium production plants. In that policy’s first draft, according to an online report from Reuters, China’s Ministry of Environmental Protection (MEP) has proposed measures that could slash steel capacity by some 50% and aluminium capacity 30% in several different parts of China. The northeast of China is a particular focus of the policy as it has been battling visibly high air pollution levels for several years. The document outlines plans to cut steel and fertilizer capacity by at least half and aluminum capacity by at least 30% in 28 cities across five regions from around late November to late February. The government scrutiny of aluminium production is being conducted in tandem with a widely reported public protest against a proposed aluminum plant in northern China. According to an…