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China

Softer export data are weakening material consumption. Despite production cuts, aluminium inventories are well stocked.

Indicating a gradual recovery from the impact of the COVID pandemic, China’s passenger car sales increased 10.2% year on year in October while electric and hybrid vehicles climbed 37.5% over the same period. Along with a 66% increase from the export sector, this contributed to more than 17 million units being sold in the year to date for a 3.2% increase over 2022.

In other developments, the world’s second-largest aluminium exporter Rusal has agreed to purchase a 30% stake in Chinese alumina producer Hebei Wenfeng New Materials for some US$ 261 million. Meanwhile, China’s Ministry of Commerce and General Administration of Customs have announced that nine controlled synthetic and natural graphite-related items have become subject to dual-use item export licence requirements.

The 2023 Annual Convention of the China Nonferrous Metals Industry Association Recycling Metal Branch (CMRA) was held in Foshan early last month and attracted.

more than 2000 attendees from 40 countries. Over the three days, more than 60 industry experts gave keynote speeches and took part in exchanges, along with the joint witnessing of the “Initiative for Creating a Green Future in the Global Recycling Non-ferrous Metal Industry” launched by five international industry associations and the adoption of the “Recycling Nonferrous Metals Backbone Enterprise Initiative”.

The CMRA’s 2024 Annual Convention will be held on November 6-9 in Suzhou, Jiangsu province.