High Chinese aluminum production in January
Source: Bloomberg News |
March 13, 2013, Wednesday
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Print Edition
Print Edition
ALUMINUM production in China, the biggest producer and user, climbed to a record in January on capacity additions, data from the National Bureau of Statistics showed yesterday.
Production was 1.78 million tons in January, according to Bloomberg News calculations based on the data. The figure exceeded the previous record of 1.75 million tons in August, said Zhang Chenguang, an analyst at SMM Information & Technology Co. The bureau doesn't release January output data alone.
Rising output will weigh on prices and force higher-cost smelters to cut output, affecting their earnings.
"The additions of new capacity far exceeded the output cuts," said Zhang. "We'll probably see further output constraints later this year."
Output in the first two months rose 15 percent annually to 3.51 million tons, while February output was 1.73 million tons, the bureau said in an e-mailed statement.
Production was 1.78 million tons in January, according to Bloomberg News calculations based on the data. The figure exceeded the previous record of 1.75 million tons in August, said Zhang Chenguang, an analyst at SMM Information & Technology Co. The bureau doesn't release January output data alone.
Rising output will weigh on prices and force higher-cost smelters to cut output, affecting their earnings.
"The additions of new capacity far exceeded the output cuts," said Zhang. "We'll probably see further output constraints later this year."
Output in the first two months rose 15 percent annually to 3.51 million tons, while February output was 1.73 million tons, the bureau said in an e-mailed statement.
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