BEIJING: China’s production of primary aluminium in June rose 6.2% from a year earlier, data showed on Monday, as producers ramped up production amid higher profits.
The world’s biggest aluminium producer churned out 3.67 million metric tons of primary aluminium, data from the National Bureau of Statistics showed, the highest single month of production in Reuters’ records that date back to November 2014.
China’s northern region of Inner Mongolia added some new capacity, and the southwestern province of Yunnan resumed most of its production thanks to sufficient hydropower supply in the summer rainy season, according to a report by information provider Shanghai Metals Market.
Producers ramped up operations following higher profits after a surge in aluminium prices from funds buying into the base metals sector.
The industry enjoyed an average profit margin of 3,152 yuan ($434.09) per ton last month, 27.5% higher compared with a year earlier, according to research house Antaike.
In the first six months of the year, China produced 21.55 million tonnes, a rise of 6.9 % from the same period last year, the data showed.
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Production of ten nonferrous metals - including copper, aluminium, lead, zinc and nickel – rose 7.5% to 6.61 million tonnes from a year earlier. Year-to-date output was up 7.1% at 39 million tonnes.
The other non-ferrous metals are tin, antimony, mercury, magnesium and titanium.
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