Shanghai Nonferrous Metals News
China produced 2.99 mln t of primary aluminium in October 2019, down 3.82% m-o-m. China’s total primary aluminium output reached 29.45 mln during the first ten months of 2019, down 2.27% y-o-y. As of end-October, operational domestic primary aluminium capacity reached 35.39 mtpy, up slightly by 340 ktpy from September but actual October output dropped by 119 kt y-o-y.
New primary aluminium capacity growth is expected to be limited in November. SMM forecast China’s aluminium output at 2.92 mln t for November, continuing the y-o-y decline trend. Inventory data during for the first ten months of 2019 shows a total of 416 kt of primary aluminium inventory having been cleared. Sluggish demand in the real estate and automobile sectors continues to curb primary aluminium consumption and there is no new drive to boost monthly consumption. SMM forecast domestic primary aluminium output to remain stable at the current level during November.
