China's Power Restrictions Affect Aluminum More Than Steel, Macquarie Says

China’s power restrictions “has been greater and is likely to be more long-lasting on aluminium than on steel,” Macquarie Group Ltd. said in a report.

Macquarie has a “positive view” on aluminum prices for the fourth quarter, according to the report dated Oct. 18. “However, any near-term strength in aluminium prices would encourage the quick ramp-up of new projects next year, once the pressure from Beijing eases.”