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As on Jul 16, 2018 12:00 AM Your results on : Mid Session    
Economic Buzz: Eurozone Trade Surplus Decreases In May
16-Jul-2018 (16:00)
Commodities Buzz: China Aluminium Output Rises in June 2018
16-Jul-2018 (15:29)

China's aluminium output in June rose 1.6 percent from the previous month to 2.83 million tonnes, data from the National Bureau of Statistics (NBS) showed on Monday, as a gradual ramp-up of new smelting capacity raised production. On a daily basis, the world's top aluminium producer churned out 94,000 tonnes of the metal last month, compared with 90,000 tonnes in May, which had one extra day. The daily figure is the highest since June 2017 and the second-highest ever.

However, the NBS said on Monday that June output was up 0.8 percent year-on-year. The data released in June 2017 preceded orders to close illegal smelting capacity in eastern China's Shandong province, as well as environmental restrictions on output in the autumn and winter seasons.

The NBS may be using a revised figure for its year-ago comparison that has not been updated on its website, which still shows June 2017 output at 2.93 million tonnes, or 97,666 tonnes per day.In the first six months of the year, China produced 16.47 million tonnes of aluminium, a rise of 1.6 percent from the same period last year, the NBS data showed.

Production of 10 nonferrous metals - including copper, aluminium, lead, zinc and nickel - rose 1.9 percent from a year earlier to 4.62 million tonnes in June, the highest level since December.

Shanghai aluminium prices fell by 4.1 percent in June, squeezing smelters' margins, but a favourable price arbitrage to international markets saw exports rise to 510,000 tonnes, the second-highest figure on record, according to data released on July 13.

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