Could Beijing’s solution to overcapacity in China’s aluminum sector be a template for other metals? Yes, according to China’s state-backed non-ferrous metals industry association (CNMIA), which is recommending aluminum-style capacity caps for the country’s copper, lead and zinc smelters. Chinese processing capacity in all three metals has grown far faster than mine capacity, creating a raw materials crunch that is biting into smelter margins. Multiple Western smelters have reduced operating rates or fully curtailed plants and it’s clear that Chinese operators are now also feeling the pain caused by their collective ... (full story)