Some of China's aluminum enterprises try in vain to cut production output to maintain the present price, according to China Nonferrous Metals Industry (CNMI).

    Statistics show that the aluminum production capacity was cut by 350,000 tons, but the aluminum price dived to 17,700 yuan/ton from 19,000 yuan/ton in July.

    It's predicted that the production capacity of electrolytic aluminum in 2008 will be less than expected, with on-year growth rate down 19 percentage points, disclosed an official with CNMI.

    The aluminum market depression is attributed to heavy stock,oversupply and weak demand, but the rise of power price will ensure the aluminum price around 17,500 yuan/ton, according to an analyst.

    Now the average cost of China's aluminum is about 17,400yuan/ton, near the spot price, showed the statistics by First Capital Securities.

    According to the report of China International Capital Co., Ltd., the growth rate of aluminum production capacity in 2008 is predicted to decrease by 17 percentage points from 2007, and that of 2009 to keep at over 20 percent.