Chinese Aluminium Market Sees Growing Output And Softening Consumption

Published: Jun 5, 2023 10:43

Source: SMM

Save

SHANGHAI, Jun 5 (SMM) –Fundamentals: According to SMM’s preliminary estimate, the domestic operating aluminium capacity rose to 40.92 million mt at the end of May.

SHANGHAI, Jun 5 (SMM) –Fundamentals: According to SMM’s preliminary estimate, the domestic operating aluminium capacity rose to 40.92 million mt at the end of May, and the domestic aluminium output rose 1% year-on-year to around 3.47 million mt in May, mainly driven by production resumption in Guizhou and Sichuan. Smelters maintained high proportion of molten aluminium output last month. Downstream operating rates fell slightly last week, and will continue to drop in June due to falling orders in the off-season. During the week, spot premiums shrank as higher prices hurt purchases.

Market review

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

4 mins ago

Today's futures dipped slightly, while spot stabilized and recovered [SMM Southern China Spot Aluminum Daily Review]

4 mins ago

17 mins ago

Aluminum Alloy Futures Consolidate and Edge Up, Spot Market Weakens with Prices Temporarily Stable [ADC12 Price Daily Review]

[ADC12 Price Daily Commentary: Aluminum Alloy Futures Consolidate with Upward Bias, Spot Market Weakens as Prices Hold Steady] Today, overall ADC12 market quotations continued to remain stable, with enterprises generally reluctant to adjust prices. On one hand, recent fluctuations in aluminum prices were limited, and the cost side lacked a clear driver, keeping market quotations relatively stable; on the other hand, as traditional consumption...

17 mins ago

23 mins ago

[SMM Analysis]Chinese Aluminum Billet Inventory Sees Slight Build, Prices and Processing Fees Diverge Regionally

According to SMM data, on July 16, aluminum billet inventory in major Chinese consumption areas stood at 114,500 mt, a slight WoW build of 1,000 mt from last Monday but a decrease of 2,000 mt from last Thursday.

23 mins ago