Domestic And Foreign Aluminum Industry News

- Dec 28, 2018-

1.Statistics from the National Bureau of Statistics show that China's aluminum output in January-November 2018 was 41.087 million tons, up 0.2% year-on-year, and the growth rate was turned positive for the first time in nearly five months. Comments: The overall growth rate of aluminum this year is slow, indicating weak downstream demand for aluminum. On the macro level, the State Council suspended the tariff on US autos and parts for three months, indicating the trend of Sino-US trade negotiations; the recent increase in US stocks and crude oil, market risk appetite has improved; domestic electrolytic aluminum companies have reached a consensus on joint production reduction, the next paragraph Time to reduce the annual production capacity of electrolytic aluminum by 800,000 tons, the aluminum price may be boosted in the short term, but the weak downstream demand of aluminum is a foregone conclusion. The price of raw materials in the near future has dropped significantly, and the long-term weakness of aluminum prices is difficult to change.

2.The Indian Minister of Commerce and Industry, Suresh Prab, said that the Ministry is in favor of raising the import tariff on aluminum, which is believed to support domestic manufacturing companies. As the import of scrap aluminum and primary aluminum continues to grow, the Indian aluminum industry has been calling for higher import tariffs. The industry is required to increase the import tax rate of scrap aluminum and primary aluminum to 10%. At present, the basic tariff rates of the two are 2.5% and 7.5% respectively.

3.RUSAL announced that Matthias Warnig resigned as an independent director and chairman. RUSAL announced that due to its other business commitments and based on the company's expected changes in the board of directors announced on December 20, 2018, Matthias Warnig has resigned as an independent non-executive director and chairman of the company, effective December 31, 2018.