China’s aluminum smelting operating capacity is expected to rise to 31 million metric tons in 2015, up 7% from 29 million metric tons in 2014, the Henan Nonferrous Metals Industry Association said December 30.
The report said 2015 alumina operating capacity will be 58 million metric tons, without giving this year’s figure. It said alumina supply and demand would be balanced next year if imports hit 5 million metric tons.
The National Statistics Bureau estimates China’s 2014 refined aluminum output at 24.5 million metric tons and expects it to rise 6-7% next year.
The Indian aluminum cash price saw a 1.0% increase on Monday, December 29, reaching INR 119.00 ($1.87) per kilogram and making it the biggest mover for the day. On the LME, the cash price of primary aluminum held steady around $1,833 per metric ton. The 3-month price of aluminum saw little movement yesterday on the LME, closing out around $1,864 per metric ton.
Chinese aluminum prices were mixed for the day. Chinese aluminum billet finished the day down 0.7% to CNY 13,400 ($2,151) per metric ton. Chinese aluminum bar held its value yesterday at CNY 13,040 ($2,093) per metric ton. The cash price of Chinese aluminum held steady on Monday, remaining around CNY 13,040 ($2,093) per metric ton. The price of Chinese aluminum scrap remained steady at CNY 12,600 ($2,022) per metric ton.