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