China’s secondary aluminium producers’ operating rates improve to 59.6% in September: SMM
According to the data released by the Shanghai Metals Market, China’s secondary aluminium producers’ operating rates increased by 6.6 percentage points month-on-month in September to stand at 59.6 per cent. In August 2020, China’s secondary aluminium operating rates were 53.1 per cent gaining 2.8 percentage points over the month.
However, despite the significant growth month-on-month, secondary aluminium producers operating rates in September stood down over the year by 1.1 percentage points.
Imports of aluminium scrap into China decreased due to lesser quotas and also the output of domestic scrap aluminium amid the COVID-19 pandemic. Meanwhile, arrivals of imported aluminium alloy ingots decreased too in September as the arbitrage window was closed in early August. Demand, however, improved moderately in line with market expectations, as the automobile market entered a high season.
In October, operating rates are expected to fall slightly to 58 per cent in October due to the National Day Holidays.
Grow with
AL Circle
