SHANGHAI Aluminum bucked
the rising trend in Chinese metals production in November, with
the light metal registering a seven-month low as other
metallics reached new heights.
Chinas primary aluminum
producers were forced to reduce output in November due to a
disruption in raw material supply from Indonesia.
Primary aluminum output of 1.66
million tonnes for the month marked the lowest monthly level
since April but was still 20.7 percent higher year on year,
according to data from the National Bureau of Statistics
Daily output averaged 55,466
tonnes last month, down from 55,484 tonnes per day in
January-to-November output was
18.16 million tonnes, up 12.3 percent year on year.
Meanwhile, other nonferrous
metals saw gains, with copper and zinc output up 2.1 percent
and 7.3 percent, respectively, from October.
Refined copper output rose to
531,000 tonnes during the month on increased raw material
demand, topping Octobers historical high of 520,000
tonnes and 18.5 percent higher year on year.
Daily output of refined copper
averaged 17,700 tonnes, up 5.5 percent from October.
Copper output for the first 11
months stood at 5.49 million tonnes, up 7.9 percent year on
Zinc output totaled 453,000
tonnes in November. Daily output also reached an 11-month high
of 15,100 tonnes, up 10.9 percent month on month but down 3
percent year on year.
"The state reserve purchase
somewhat helped smelters mood and expectations for the
market outlook. It also lowered inventory pressures on
smelters," Hu Ziqi, a Shanghai-based zinc analyst at Everbright
Forex & Futures (HK) Ltd., told AMM sister
publication Metal Bulletin.
Market participants expect daily
zinc output to remain high in December.
Ferroalloys output also rose in
November, reaching a high for the year of 2.93 million tonnes,
up 27.6 percent year on year, as smelters increased production
on improved demand from steel mills.
Daily production averaged 97,333
tonnes during the month, up from 90,387 tonnes per day in
From January to November,
Chinas ferroalloys output reached 28.4 million tonnes, up
13.9 percent year on year.
Analysts expect ferroalloys
output to be as high as 2.9 million tonnes in December, pushing
the annual total to 32.3 million tonnes compared with 28.4
million tonnes in 2011, they said.
The countrys daily
run-of-mine iron ore output also increased 3 percent month on
month in November on stable iron ore prices.
production was 4.15 million tonnes per day last month compared
with 4.03 million tonnes daily in October. But the total is
still lower than the record 4.3 million tonnes per day recorded
output was supported by relatively stable iron ore prices,
though steel prices fell during the month," an industry analyst
in Beijing told AMM sister publication Steel
Chinas 11-month run-of-mine output totaled 1.2 billion
tonnes, up 1.1 percent year on year.
This was compiled from versions of various
articles first published by AMM sister publications Metal
Bulletin and Steel First.