Improved hydropower reserves in Yunnan
Heavy rains have replenished hydropower reserves in Yunnan, enabling smelters to restart after droughts previously reduced their electricity supply. Insights from Bloomberg Intelligence (BI), a trusted source in the financial industry, indicate that an additional 330,000 tonnes of capacity is expected to resume in Yunnan this month. Furthermore, BI forecasts a decrease in aluminium prices in June, attributing it to softened demand following the recent price surge.
According to the statistics bureau on Monday, aluminium production surged by 7.2 per cent Y-o-Y, reaching 3.65 million tonnes, despite a decrease in the daily rate due to the shorter month of April. Meanwhile, steel output increased by 2.7 per cent to 92.86 million tonnes after experiencing declines in previous months, though the stability of this growth remains to be determined.
