Just about everything he posts is BS!' The vast majority of...

Just about everything he posts is BS!

' The vast majority of financial support was provided by China’s state-owned banks to Chinese aluminium SOEs; however, two large private firms also benefitted from support from state-owned banks: China Hongqiao, the world’s largest producer of primary aluminium, and China Zhongwang, China’s largest producer of extrusion products. '

What is quite interesting, tho, is the Malaysians have put export tariffs on their ferroalloys so as to encourage supplying domestic demand. Admittedly, their hydro-electric power is cheaper and the Japs are happy to buy cheaper from them. The Chinese, also, have encouraged domestic supply and by doing so, companies using the 'SUBSIDIZED' Aluminium are competing nicely in producing fabricated products for the export market. Power is becoming more expensive in India as domestic consumption rises due mainly to more people moving up towards the middle classes, so they have their production issues, also.

With China, it goes to the bigger picture as to why Trump considers nothing is ever a level playing field with a Communist Govt that can do anything it wants in a short space of time.

I guess the big picture for S32 is what Kerr and Co are, clearly, all over, is the need to make the right decisions based on current and future global factors to continue as a profitable, diverse miner of base metals. If this means ditching unprofitable smelters that can't compete along the way, then that's what they'll do.