China Nov aluminium output hits daily record high
China’s primary aluminium production hit a daily record in November, official data showed, as more smelting capacity came onstream to take advantage of strong demand and high prices for the metal.
Output was 3.18 million tonnes last month, the National Bureau of Statistics said, up 8.7% from a year earlier. While the monthly figure was down 0.6% from October’s record 3.2 million tonnes, November’s daily output of 106,000 tonnes beat September’s previous daily record of 105,433 tonnes. November has one day less than October.
Aluminium prices in China soared 15% in November before striking a nine-year high of 16,925 yuan ($2,582)a tonne on Dec. 2 amid dwindling inventories. Prices were trading at 16,185 yuan per tonne at 0324 GMT on Tuesday.