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Both sales and production of automobiles in China saw significant on-year and on-month rises in September, mainly thanks to a series of stimulus policies and promotion activities to lift auto consumption according to the latest statistics from China Association of Automobile Manufacturers (CAAM) released on October 13. The longer-than-usual National Day holiday over October 1-8 also gave a fillip to September sales, Mysteel Global notes.
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Among the four major electrical home appliances manufacturing in China, that of air-conditioner declined the most by 17.2% on month to 15.3 million units for August, though the volume was still 0.5% higher on year, according to the latest data from China’s National Bureau of Statistics (NBS), though market sources remained optimistic on higher production for the last quarter of 2020.
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As of September 15, China’s national price of 99.7% aluminum ingot fell for the third straight week by another Yuan 88/tonne ($13/t) on week to Yuan 14,624/t including 13% VAT under the mounting pressure of higher output and lower alumina prices, according to the assessment of Mymetal, Mysteel’s nonferrous metals data collection arm.
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Production and sales of automobiles in China both witnessed on-year rises for the fifth successive month in August, mainly thanks to the stabilizing economy and a series of policies aimed at stimulating purchasing, according to the latest release from the China Association of Automobile Manufacturers (CAAM) on September 10. Market sentiment also largely improved last month, the association noted.
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China’s primary aluminum prices had been spiraling down over August 24-28 under the pressure of the commissioning of new aluminum capacities nationwide, according to the latest weekly report from Mymetal, Mysteel’s nonferrous metals data collection arm.
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As of September 7, total stocks of primary aluminum ingot in the warehouses of the Shanghai Futures Exchange (SHFE) and in 16 Chinese cities were slightly higher on week at 755,000 tonnes, 6,000 tonnes up on the previous week, according to the weekly report from Mymetal, Mysteel’s nonferrous metal data collection arm. Nonetheless, stocks remained at a rather low level, survey respondents noted.
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China’s national price of the 99.7% aluminum ingot recovered Yuan 245/tonne ($35/t) on week to Yuan 14,673/t including 13% VAT after having spiralled down over July 30-August 17, mainly on the support of higher alumina prices and low level of ingot stocks, according to the market survey of Mymetal, Mysteel’s nonferrous metal data collection arm.
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By August 17, China’s primary aluminum ingot stocks in the warehouses of the Shanghai Futures Exchange (SHFE) and 16 Chinese cities rose for the third straight week by 2.6% or 19,000 tonnes on week to 750,000 tonnes, as the consumption had stayed in a lull, according to weekly report of Mymetal, Mysteel’s nonferrous metal data collection arm.
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By August 10, China’s primary aluminum ingot stocks in the warehouses of the Shanghai Futures Exchange (SHFE) and 16 Chinese cities climbed up for the second straight week by 5% or 35,000 tonnes on week to 731,000 tonnes, as consumption stays dismal, according to weekly report from Mymetal, Mysteel’s nonferrous metal data collection arm.
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By August 3, China’s primary aluminum ingot stocks in the warehouses of the Shanghai Futures Exchange (SHFE) and 16 Chinese cities reversed up 8,000 tonnes on week to 696,000 tonnes, as higher spot aluminum ingot prices led to stock-up at the warehouses, according to weekly report from Mymetal, Mysteel’s nonferrous metal data collection arm.
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By July 27, primary aluminum ingot stocks in the warehouses of the Shanghai Futures Exchange (SHFE) and 16 Chinese cities reversed down by 10,000 tonnes or 1.4% on week to 688,000 tonnes after two weeks of increases, according to the weekly report by Mymetal, though market sources rebutted the suggestion that a turning point for better demand had been reached.
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As of July 20, primary aluminum ingot stocks in the warehouses of the Shanghai Futures Exchange (SHFE) and 16 Chinese cities inched up for the second week by another 1,000 tonnes on week to 698,000 tonnes, suggesting the country’s aluminum demand remained tepid, according to the weekly report of Mymetal, Mysteel’s nonferrous data collection arm.
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As of July 13, primary aluminum ingot stocks in the warehouses of the Shanghai Futures Exchange (SHFE) and 16 Chinese cities reversed up, ending the declines since late March, growing 15,000 tonnes or 2.2% on week to 697,000 tonnes, as demand from the downstream users had weakened, according to the survye by Mymetal, Mysteel’s nonferrous data collection arm.
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China’s national average price of 99.7% aluminum ingot surged by another Yuan 301/tonne ($43/t) on week to Yuan 14,383/t including 13% VAT as of July 6, a recent six-month high, as retail stocks of aluminum ingots continued to shrink, according to Mymetal’s weekly report. Mymetal is Mysteel’s nonferrous metal data collection arm.
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Better demand from China’s domestic aluminum smelters saw the country’s alumina price strengthen by another Yuan 17/tonne ($2.4/t) on week to Yuan 2,353/t including 13% VAT as of June 29, or back to the level in early April, according to the market survey of Mymetal, Mysteel nonferrous metal data collection arm.
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Chinese production of air-conditioners declined by 14.7% on year to 19.4 million units during May, according to the latest data from China’s National Bureau of Statistics, with the May result taking total production over January-May to some 78 million units, lower by 23.1% on year, the NBS data show. However, the pace of the decline had slowed marginally from the 24.8% decrease charted over the first four months.
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Primary aluminum stocks in the warehouses of the Shanghai Futures Exchange (SHFE) and 16 Chinese cities declined further over June 8-15, though at a slower pace of 44,000 tonnes or 5.6% on week from the 8.6% on-week contraction in the prior week, mainly due to more imports and fewer orders from overseas customers, according Mymetal’s survey.
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Better than expected, China’s auto sales rose on year and on month for the second successive month in May after a 21-month continuing drop, up 14.5% on year or 5.9% on month to 2.2 million units, mainly due to the government’s preferential policies and robust demand for trucks for infrastructure construction, according to the release from the China Association of Automobile Manufacturers (CAAM) on June 11.
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China’s sales of excavators for both domestic and overseas customers for May had rose on year for the third successive month, up 68% on year, as end-users had been booking in anticipation of more construction projects in the coming months, according to the latest statistics from the China Construction Machinery Association (CCMA) on June 9.
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China’s national average price of 99.7% aluminum ingot which Mymetal assesses climbed by a remarkable Yuan 205/tonne ($29/t) on week to Yuan 13,669/t including 13% VAT as of June 8, according to Mymetal’s weekly survey. Mymetal, Mysteel’s nonferrous metal data collection arm, attributed the rise to the fast pace of destocking in the domestic market.
