China’s primary aluminium production rose to 3.18mn mt in Nov 2020, up by 8.7pc from the prior year, according to National Bureau of Statistics (NBS) of China’s data. The aluminium production dropped by 0.6pc from October. China’s daily aluminium output shot up to 106,000mt, a rise from 105,433mt in Sep.
The increase in aluminium output could be the result of new smelting capacity getting activated on the back of the high prices for the lightweight metal.
The aluminium prices in China rose by 15pc in Nov, before further climbing up to CNY16,925/mt ($2,585.77/mt) on Dec 2, despite the low input cost.
China produced 33.82mn mt in the first eleven months of 2020, up by the prior-year period.
Till date, China’s primary aluminium ingot price has come in at CNY16,540 per tonne, with average prices to range between CNY16,520 per tonne and CNY16,560 per tonne.
($1= CNY6.54)