ANNOUNCED AS TEMPORARYNo
On the 5th of June 2016, the State Council of the People's Republic of China announced it would be pushing various lesser government bodies to play their part in the support of the nonferrous metal industry in the country.
Considering China accounts for over half of global aluminium production, it can be seen that such an announcement primarily affects the aluminium sector.
The first of the mechanisms used to achieve the goals laid out in the policy is a promise of subsidised electricity costs for eligible firms.
This again demonstrates the pertinence of this announcement to aluminium smelters, as the process involves electrolysing aluminium ores, meaning around 40% of the cost involved therein is electricity.
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