Aluminum prices fell 1.3% to 238.45 due to minor dissatisfaction with recently announced stimulus measures aimed at revitalizing China’s economy. And investors are uncertain about its immediate effect on the metals market. Concerns have been heightened by proposed tariffs on China after an election, which could reduce global demand for metals such as aluminum. China’s aluminum production rose 1.69% year-on-year in October.
However, due to delays in the full opening of smelters, expectations for production have fallen. Additionally, the percentage of liquid aluminum increased by 3.6 percentage points year-on-year to 73.93%. In the first 10 months of 2024, China’s exports of unmanufactured aluminum and aluminum products rose to 5.5 million tons, up 17% from a year earlier. Exports reached 577,000 tonnes in October alone, up 2.7% month-on-month and 31% year-on-year. In September, production reached 3.65 million metric tons, up 1.2% from a year earlier.
