The Chinese production volume of aluminum increased again
National Bureau of statistics of China shared the latest data. So the Chinese aluminium industry has improved its performance. In November, the recession, which lasted for three months, stopped. In the end, the production of aluminium reached 2.82 million tons. In comparison with October’s 3.9% increase. In comparison with last year November, it is 19.2% more.
For the period January-November production volume amounted to 31,45 million tons. Over the same period last year the figure was less than 7.5%. As a result, Chinese industry could finish the year with a positive result. Moreover, it can set a new absolute record.
Interestingly, experts do not expect growth in November. During this period, launched a new seasonal restrictions. They touched on a number of Chinese cities. However, it was put into operation new capacity. It is possible to compensate for the fact that the download of active enterprises decreased. It is reported by the analyst of a Hong Kong company Argonaut Securities. We will remind that in November, introduced new restrictions on the production of aluminium.
Experts name one more reason of growth of production volumes. It made favourable market conditions. In November, there was a drop in prices for aluminium. This was recorded on the Shanghai futures exchange. The indicators have reached the two-year minimum. However, an even greater fall was in the prices of alumina. It also touched on the price tags of bauxite. They demonstrated much lower results. Because steelmakers have reduced the cost of raw materials. In the end, this allowed them to increase profitability. This has been observed in the last week of November. Let’s see whether the trend will continue in the Chinese market in the near future.