According to official data on Tuesday, China's annual aluminum production in 2022 reached a record high by 4.5% compared to the previous year, reaching 40.21 million tons, driven by the expansion of newly launched capacity and the loosening of power supply restrictions.
The National Bureau of Statistics said December primary aluminum production was 3.43 million tons, up slightly from 3.41 million tons in November, 10.3% higher than a year earlier.
December production amounted about 110,645 tons per day compared to about 113,667 tons in November.
The domestic supply, which increased with the weak demand hit by the pandemic, put pressure on the prices of light metals used in the construction, transportation and packaging sectors.
According to S&P Global Commodity Insights metals analyst Lucy Tang, domestic aluminum demand is likely to increase in 2023 as well, as China expects a recovery in the real estate sector after the relaxation of COVID measures.
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