SHANGHAI, Oct. 28 (SMM) – The average operating rate at Chinese aluminum plate, sheet, strip and foil producers surveyed by SMM was 61.45% in September, little changed on MoM and YoY basis.
The average operating rate at plate, sheet and strip producers was only 60.68% due to sluggish automobile, property and home appliance sectors. The average rate at foil producers rose only marginally to 64.98%, SMM survey has found. Demand for air conditioner foil softened as cooler weather during this year’s summer dampened air conditioner sales.
Aluminum processors did not build up raw material stocks in late September for use during the Chinese National Day holiday due to sluggish end-user demand and uncertainty over post-holiday aluminum prices. Aluminum processors restocked only as needed after the weeklong holiday.
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