Aluminium prices fell by 2.15% to 241.6 due to disappointment over China’s limited fiscal stimulus measures. The package aimed to ease debt repayment burdens for local governments, but fell short of investors’ expectations.
The potential for higher tariffs under the US President-elect also loomed over the metals market, causing concerns about reduced demand for Chinese exports. In October, China’s aluminium production rose 1.69% year-on-year, but some smelters failed to meet full operational expectations.
Downstream demand for alloy products remained stable, and liquid aluminium output increased. China’s unwrought aluminium and aluminium product exports surged, reaching 5.5 million tons in the first ten months, a 17% increase from the previous year.
Production figures for September showed a 1.2% annual growth, with daily output averaging 121,667 tons. Profit margins for aluminium producers improved by 12.2% in September.
