date:Feb 24, 2014
LS: Most base or industrial metals advanced on supply-side concerns, but gains were tempered by Chinese data. The (aluminium) price was doubtless driven up by announcements by leading aluminium producers that production capacities are to be shut down, said Commerzbank analysts.
Alcoa in Australia is permanently closing down a smelter with an annual production capacity of around 190,000 tonnes on account of the difficult market environment. Rusal is also planning to shut down further capacities