China Aug aluminium output falls for 4th month as supply cuts mount
Reuters
Published Sep 15, 2021 05:27
(Corrects to remove milestone reference in first and third paragraphs)
(Reuters) - China's aluminium output in August slipped for a fourth straight month, official data showed on Wednesday, as restrictions on metal production and power usage in key smelting hubs keep supply tight.
The world's top producer of the metal produced 3.16 million tonnes of primary aluminium last month, the National Bureau of Statistics said. That was down 3.2% from 3.263 million tonnes in July but up 0.4% year-on-year.
Restrictions on energy-intensive primary aluminium production in China have hampered the industry this year, as regions suffering from power shortages or under pressure to reduce emissions tell smelters to cut back.
Furthermore, to stop what it said was illegal over-production, a prefecture in the western Xinjiang region last month ordered a 10% cut in monthly output levels for August-December across five smelters. Xinjiang is home to almost one-fifth of the country's primary aluminium capacity.
China's output of 10 nonferrous metals - including copper, aluminium, lead, zinc and nickel – was 5.3 million tonnes in August, the statistics bureau said, its lowest monthly total in a year. That was down 1.3% from 5.367 million tonnes in July but up 0.4% year-on-year.
The other metals in this group are tin, antimony, mercury, magnesium and titanium.
Get The App
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.