More working days bolster November operating rates at Chinese secondary aluminium producers
Shanghai Metals Market research found operating rates across Chinese secondary aluminium producers averaged 57.14 per cent in November, up 0.33 percentage point from October but down 4.28 percentage points from the corresponding period last year.
As per the report from SMM, more working days in November grew secondary aluminium production and raised operating rates marginally on the month.
Stocks of finished goods across most of the secondary aluminium producers remained normal while at some jumped due to poor orders.
In November, most large producers with export businesses increased their export orders given greater profits, faster cash recovery, and stable raw material supplies. Certain plants in Zhejiang and Guangdong planned to begin export businesses that used foreign raw materials, SMM learned.
According to SMM research as of December 10, most secondary aluminium producers do not expect production growth in December as high stocks of finished goods might prompt output cuts. Shanghai Metals Market predicts that operating rates may drop this month across many of the Chinese secondary aluminium producers.
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