NBS: Chinese Aluminum Output Touched Fresh Peak in 2020

SEATTLE (Scrap Monster):  The most recent statistics published by the National Bureau of Statistics (NBS) indicate that aluminum production by China hit record high in 2020. The yearly production totalled 37.08 million tonnes, higher by almost 5% from the prior year. The previous highest annual production was reported in 2018, when the country’s primary aluminum output had totalled 35.802 million tonnes.

The output hit its monthly all-time peak in December 2020. The output totalled 3.27 million tonnes during the month, which was up by 2.8% from 3.182 million tonnes in the prior month. Also, the Dec ’20 output surpassed the previous monthly output record of 3.2 million tonnes recorded in October 2020.

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Meantime, Shanghai aluminum prices registered a decline by 4.2% during the last month of the previous year. The prices had surged higher by nearly 23% during the entire previous year, triggered by the pandemic uncertainties. The smelters stepped up production to take maximum advantage out of the booming prices.

The aluminum production in the country is expected to record year-on-year growth by 6.5% in 2021. Incidentally, the country aims to cap its annual production capacity at around 45 million tonnes.