The pace of the yuan’s depreciation will determine its effect on theexports of Chinese aluminium products, with energy prices emergingas the unyielding factor for the market at this point.A weakening yuan results in two things for the aluminium market:it underpins Chinese exports, which has already resulted in a plungein physical premiums and prices; and it brings down costs for Chineseproducers and holds off planned output cuts.
展开▼
