China’s average daily aluminium output for October fell to its lowest level in over a year, according to Reuters calculations based on data released by the statistics bureau, as smelters faced continued restrictions due to power shortages.
Monthly production, however, rose from the prior month, official data showed on Monday, ending a run of five straight monthly declines.
Read Also : Global crude oil prices drop to 82.17 dollars per barrel; US may release reserves
The world’s top producer of the metal churned out 3.13 million tonnes of primary aluminium last month, the National Bureau of Statistics (NBS) said. That was up from 3.075 million tonnes in September but down 1.8% year-on-year.
On a daily basis, October output works out at 100,968 tonnes per day, its lowest daily levels since July 2020, versus 102,500 tonnes in September, which had one less day.
The southwestern province of Guizhou on Oct. 21 ordered all five of its aluminium smelters to reduce power usage and shut capacity, consultancy MySteel reported, putting the annual operating capacity affected at 1.3 million tonnes.
Those measures were the latest in a series of curbs placed on energy-intensive aluminium production by regional governments this year – including in the smelting hub of Yunnan that borders Guizhou – as they come under pressure to reduce carbon emissions and cut power usage.
Yunnan has told smelters not to increase average monthly production from August levels over the remainder of the year.
Consultancy Wood Mackenzie said in a study it expects more aluminium production suspensions in Yunnan during the fourth quarter, “as the impact of insufficient hydropower supply has been exacerbated by the dry season.”
National output in the first 10 months of 2021 was nonetheless up 6.5% year-on-year at 32.37 million tonnes, still on course for an annual record high.
China’s output of 10 nonferrous metals – including copper, aluminium, lead, zinc and nickel – was 5.26 million tonnes in October, the statistics bureau said.
That was up 0.5% from 5.234 million tonnes in September, but down 2.6% year-on-year.
Read Also : NTPC Director Operations Ramesh Babu inspects Korba plant, inaugurates security mascot ‘Kavach’
The other metals in this group are tin, antimony, mercury, magnesium and titanium.
China supplies some 85% of the world’s magnesium and the impact on its production from the power crunch sent prices to record highs, leading to fears of shortages in the automotive industry.
सोशल मीडिया पर अपडेट्स के लिए Facebook (https://www.facebook.com/industrialpunch) एवं Twitter (https://twitter.com/IndustrialPunch) पर Follow करें …
