China's aluminum output in Aug increases to monthly record despite power rationing
Views : 159
Update time : 2022-09-20 18:44:38
According to data released by the National Bureau of Statistics of China, China’s aluminum output in August went up by 9.6% year on year, reaching 3.51 million tons. The increase was mainly due to new capacity starting production, enough to offset curbs on power use in some areas. However, some key smelters in other regions struggled with restrictions on metal production and power usage.
According to data, in the January-August period, China produced 26.47 million tons of aluminum, a year-on-year hike of 2.1%.
The output of recently added capacities in Guizhou and Inner Mongolia was enough to offset the capacities in other regions that applied power limitations due to tight electricity supply.
Meanwhile, more and more European producers began to shut down or lower their production due to soaring energy prices.
Worries about the supply chain have encouraged aluminum prices from a 15-month low in July, while the encouragement has been offset by the global recession among increasing rates in the US and other countries.
