SHANGHAI, Dec 23 (SMM)—Operating rates at secondary aluminium producers gained 4.9 percentage points on the month but dipped 0.1 percentage point on the year to 62.4% in November, SMM data showed.
Robust consumption of automobiles boosted orders at secondary aluminium producers and prompted them to raise operating rates. Trades of aluminium scrap and secondary aluminium muted in November as aluminium prices soared by nearly 2,000 yuan/mt in the month, and large-scale secondary aluminium producers remained cautious even when aluminium prices fell and steadied in mid-December. Operating rates are expected to fall sharply in December.
