According to research, aluminum consumption in China might fall down this year, which will be the first time in 30 years, and the domestic demand and exports will also decline at the same time.
It was estimated Chinese primary aluminum consumption this year will be around 36.6 million tons, a 12% decline compared with last year. Among them, domestic consumption declined by 0.9% and exports dropped by 3%.
According to customs statistics, in October, non-proceeding aluminum exports, including primary aluminum, alloy and semi-product, decreased to 431,000 tons, which was the lowest within 2 months.
Besides, Chinese aluminum production was estimated to decline by 1.6% this year to 36 million tons, with net imports of 2.5 million tons and a shortage of 530,000 tons.
In the first 8 months of this year, Chinese aluminum manufacturers' profit increased by 75%, the best performance of these 3 years, but the capacity of this year remained low. From January to October, there was 3.46 million tons capacity being closed permanently.
2019 Chinese aluminum consumption may fall down for first time in 30 years
15 Nov 2019 15:35 reported by Alex Lo
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