China¡¯s aluminium output in Q1 up by 3.9% YoY

Reuters reported that according to data issued on Wednesday by the National Bureau of Statistics, China churned out 2.88 million tonnes of primary aluminium in March 2019, up 3.4% YoY. Production in Q1 is up by 3.9% at 8.57 million tonnes. The March number works out at around 92,900 tonnes per day, according to Reuters calculations, down from around 96,400 tonnes per day in January-February and the lowest daily rate since around 87,600 tonnes per day in October.

Ms Jackie Wang, an analyst at CRU in Beijing, said the consultancy estimates close to 2.7 million tonnes of annual smelting capacity in China has been closed since a slump in aluminium prices began in the second quarter of 2018. She said “We haven’t seen any restarts yet from the affected smelters.”

Environment-related winter curbs on industrial output, including aluminium, in northern China ended in the middle of March, although some had expired at the end of January. It can take several months for smelters to ramp up to full output after switching their pots back on.

China’s aluminium exports last month rebounded from a two-year low in February to 546,000 tonnes, their second-highest level on record.

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