China aluminium smelters vow to cut output by 500,000 tonnes by year-end

BEIJING: China's top aluminium smelters will reduce capacity by 500,000 tonnes by year-end, taking total capacity cuts for 2015 to just under 5 million tonnes in a bid to whittle down a domestic supply glut, a major trade association said on Friday.

In a statement following a meeting of 14 major producers including Chalco in Yunnan province on Thursday.

China's Nonferrous Metals Industry Association (CNIA) said the producers have also pledged not to open any new capacity for at least one year or reopen any idled capacity. The statement was issued on behalf of the 14 smelters.