China’s November 2023 aluminium production dips 4.2% M-o-M due to output cuts in Yunnan
2023年12月11日 19:48:38
铝云汇
Yunnan’s aluminium production shutdowns due to the ongoing dry season have resulted in lower aluminium output in November 2023. According to the Shanghai Metals Market survey, China’s aluminium production in the said month stood at 3.488 million tonnes, down by 4.2 per cent from 3.641 million tonnes in October 2023.
The decline in November 2023 aluminium production happened as per the SMM forecast. The Shanghai Metals Market had estimated the aluminium production to decline in November to reach 3.45 million tonnes, marking a M-o-M down of 5.25 per cent.
In line with monthly production downfall, the average daily output also decreased in November 2023 to 116,300 tonnes from 117,500 tonnes in October.
However, on a year-on-year calculation, China’s aluminium production in November 2023 recorded an increase of 4.6 per cent. From January to November, China’s total aluminium production reached 37.946 million tonnes, up by 3.6 per cent from the corresponding period of the previous year.
At the end of November 2023, China’s aluminium operating capacity was 41.89 million tonnes, and the built-in capacity was 45.19 million tonnes. Operating rates dropped 2.4 per cent month-on-month to 92.7 per cent.
SMM notes the molten aluminium’s share rose 3 points M-o-M to 73.4 per cent in November. Domestic aluminium cast ingot volume was around 928,000 tonnes, down by 10 per cent year-on-year. During January-November, domestic aluminium cast ingot volume totalled 11.138 million tonnes – 10.4 per cent less than in the previous year.
Production of aluminium billet stood at 1.318 million tonnes, down 12,000 tonnes month-on-month. The operating rate was 65.5 per cent, down 0.9 per cent M-o-M. In December 2023, some billet factories in Inner Mongolia and Xinjiang are expected to see production cuts or shutdowns of varying degrees due to annual maintenance, lowered demand expectations, and early holidays. Consequently, a decline is forecast in domestic aluminium billet production.
The overall aluminium production in December is estimated to reach 3.56 million tonnes, up 3.5 per cent year-on-year. China’s total aluminium output in 2023 is expected to amount to 41.5 million tonnes, reflecting a year-on-year rise of 3.6 per cent, showed SMM.
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