SHANGHAI, Nov 9 (SMM) - The overall output grew steadily. According to the National Bureau of Statistics, from January to September, the output of alumina, aluminium and aluminium products was 58.84 million mt, 29.15 million mt and 44.78 million mt respectively, up 7.6%, 7.2% and 10.7% year-on-year, with a two-year average growth of 2.9%, 5.1% and 8.8%.
Second, aluminium ingot inventory declined. According to industry analysts, the social inventory of aluminium ingots in late September stood at 820,000 mt, down 34% from the year's high.
Third, the prices have risen sharply. According to the China Nonferrous Metals Industry Association, the prices of aluminium have risen sharply this year, with the average spot prices from January to September at 18,491 yuan/mt, up 32.5% year-on-year; and the spot price as of September 13 stood at 23,410 yuan/mt, a new high in nearly 15 years.
Fourth, the decline in imports of bauxite and alumina narrowed, and aluminium products exports grew. According to the General Administration of Customs data, from January to September, bauxite, alumina (in physical content) imports stood at 81.53 million mt and 2.69 million mt, respectively, down 7.2% and 9.4% on the year; the decline narrowed 0.8 and 1.5 percentage points, respectively compared with January-August. Aluminium scrap imports totalled 636,000 mt, up 0.6% year on year. The imports of unwrought aluminium stood at 1.92 million mt, up 12.9% from the same period last year. While the exports of aluminium products recorded 3.94 million mt, up 16.1% on the year.
