SHANGHAI, Nov 13 (SMM) – Operating rates across Chinese secondary aluminium producers averaged 56.81% in October, down 1.44 percentage points from a month earlier and 3.19 percentage points from a year earlier, SMM data showed.
Data from the China Association of Automobile Manufacturers (CAAM) showed that production and sales of automobiles in October decreased by 10.1% and 11.7% from a year ago, respectively. In January-October, production and sales stood 0.4% and 0.1% lower than the same period last year, respectively, the first contraction thus far this year.
The downbeat consumption figures came in line with SMM’s research on output across Chinese secondary aluminium producers. While several producers with brisk export orders held output stable last month, most secondary aluminium producers reduced output.
As of November 10, most producers told SMM that they did not receive significantly more orders. SMM expects the operating rates across Chinese secondary aluminium producers to stay at 56% in November.
