Make Kitco Your Homepage

UPDATE 1-China's May aluminium output rises 2.4% y/y -stats bureau

Kitco News

* China May aluminium output at 2.98 mln tonnes -stats bureau
* China May non-ferrous output at 4.74 mln tonnes -stats bureau
* Shanghai aluminium prices slipped by 0.4% in May

(Adds details)

BEIJING, June 14 (Reuters) - China's aluminium production rose by 2.4% in May from a year earlier, according to data released by the National Bureau of Statistics (NBS) on Friday, as smelters that restarted due to higher prices for the light metal continued to ramp up output.

The world's top aluminium producing country churned out 2.98 million tonnes of the metal last month, the NBS said. That was up 2.1% from 2.92 million tonnes in April, it said. On a daily basis, output averaged around 96,129 tonnes in May, according to Reuters calculations, down from 97,200 in April, which had one day fewer.

Shanghai aluminium prices slipped by 0.4% in May, after rising by 3.3% in April to well above 14,000 yuan
($2,030) a tonne, a mark considered a break-even threshold for many Chinese smelters.

In the first five months of the year, China produced 14.45 million tonnes of aluminium, a rise of 2.7 percent from the same period last year, the data showed.

China's imports of alumina, raw material for the light metal, doubled in April to 60,000 tonnes, according to customs data, and traders expect imports to rise further in May and June due to plant closures in Shanxi province. Meanwhile, production of ten nonferrous metals - including copper, aluminium, lead, zinc and nickel – rose 2.2 percent from a year earlier to 4.74 million tonnes, which was flat to April.

Nonferrous output for the first five months of the year was up 4.0 percent at 23.41 million tonnes. The other non-ferrous metals are tin, antimony, mercury, magnesium and titanium.

(Reporting by Shivani Singh; Editing by Tom Hogue)

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.