Shanghai Nonferrous Metals News
As of end-September, China’s annual operational capacity of primary aluminium was 35.05 mtpy, with 5.25 mtpy under suspension or idle and an overall operational rate of 87%. In the wake of improved aluminium prices during October, several smelters in Gansu and Qinghai began to resume production of previously idle capacity. IM generated significant new growth during October, in comparison, new capacity growth in other regions of China has been slow. Apart from that , some capacity was resumed after accidents in October.
SMM analysts forecast domestic primary aluminium output at 3.01 mln t, down 3.34% y-o-y. Primary aluminium de-stocking continued during late October, seeing domestic aluminium inventories dropping to 890 kt at end-October.
