IAI: Aluminum Production Hits Lowest Rate Since January Outside China

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Source: Novelis

Daily average aluminum production in the world outside China slid to 66,200 tons in October, according to the International Aluminum Institute (IAI).

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It was the lowest collective run-rate since January with continued strong growth in the Gulf region, up 23% so far this year, offset by curtailments and closures elsewhere.

Annualized non-Chinese production has fallen by 1.61 million tons since the start of 2012, which was when Western producers started wielding the collective axe in response to low prices.

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At CNY 12,700 ($2,064) per metric ton, Chinese aluminum scrap moved up 0.8% on Friday, December 5, the day’s biggest change. The Chinese aluminum cash price remained essentially flat at CNY 13,460 ($2,187) per metric ton. Chinese aluminum bar saw little change in its price last Friday at CNY 14,450 ($2,348) per metric ton. The price of Chinese aluminum billet held steady at CNY 13,700 ($2,226) per metric ton.

Following a two-day drop, the primary aluminum cash price increased by 0.4% on the LME to $1,975 per metric ton. On the LME, the aluminum 3-month price gained 0.4% to finish at $1,974 per metric ton. The Indian aluminum cash price saw a 0.2% decline to INR 123.35 ($2.00) per kilogram.

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