China’s secondary aluminium operating rates increase 5 percentage points M-o-M to 62.4% in Nov’20
According to the Shanghai Metals Market, China’s secondary aluminium producers operating rates gained 4.9 percentage points month-on-month in November 2020, following a decline in October. The operating rates came in at 62.4 per cent, down 0.1 percentage point year-on-year, showed the data.
The fall in secondary aluminium operating rates in October 2020 was sharper than expected due to lower productivity at producers and downstream pre-scheduled orders. Last month, operating rates boosted with robust consumption of automobiles. Trades of aluminium scrap and secondary aluminium remained muted as aluminium prices soared by nearly RMB 2,000 per tonne in the month.
Large-scale secondary aluminium producers remained cautious even when aluminium prices fell and steadied in mid-December.
For December 2020, Shanghai Metals Market expects secondary aluminium producers operating rates to fall sharply.
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