Aluminum Price on Guangzhou Nanhai Nonferrous Metals Spot Market Unit: yuan/tone

摘要

The large increase in LME aluminum stocks is partly related to Chinese exports. Based on the current LME aluminum price, it is profitable for Chinese smelter to export primary aluminum on tolling basis. (Although alumina processing trade has been removed,, some smelters are permitted to continue to conduct the processing trade in the rest of this year to complete contract signed with overseas clients). The Chinese exports is estimated to reach 100,000 tonnes or above in November 2005, but it is not big compared with the average export level in recent two years. The history has ended that China is a big exporter of primary aluminum. Chinese government has recently announced that it would continue to implement macro-control measure on domestic primary aluminum industry and closely monitor the exports. According to Chinese industrial policy, Chinese primary aluminum production mainly aims to meet domestic demand.