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New Zealand - Power prices hit smelter

<font size="2">New Zealand Aluminium Smelters is cutting production at its Tiwai Point smelter by about 5 per cent as a result of rising power prices. </font>

<font size="2">Hydro lake levels at around 60 per cent of average storage, significantly lower than normal because of drought, are pushing up wholesale power prices. </font>

<font size="2">The smelter's reduction of 30 megawatts of power demand corresponded to a cut in aluminium production of about 1400 tonnes a month, the company said.</font>

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