Aluminum market report December 2013

Contents
Aluminum market report December 2013 1
Abstract 1
1. Financial overview 1
1.1 Domestic financial review 1
1.1.Asian Metal Copyright2 Alumina 29 7.Asian Metal Copyright1 CPI up 3.Asian Metal Copyright6% YOY 29 Picture 28 Chinese alumina import Jan-Nov, 2013 10,000t 29 7.Asian Metal Copyright2%, PPI down 1.5% YOY in Oct 1
Picture 1 China’s CPI and PPI in 2011-2013 2
1.1.2 PMI declined MOM in December 2
Picture 2 PMI of China’s manufacturing industry in 2011-2013 3
1.2 International financial review 3
1.2.1 Crude oil future prices up on political chaos in South Sudan 3
Picture 3 Market price trend of dominant contract of crude oil futures in US in December 4
1.2.2 US dollar index fluctuates slightly 4
Picture 4 US dollar index trend 4
2 Company news 5
3 Chinese domestic market review 6
3.1 Aluminum ingot market 6
3.1.1 Aluminum ingot price down to new record low levels 6
Picture 5 Aluminum Ingot price in Chinese market in December 2013 (RMB/t) 6
3.1.2 Traders trying to get more cash 6
3.2 Alumina market 7
3.2.1 Chinese alumina price stable 7
Picture 6 Chinese origin alumina price movement Jan-Dec, 2013 (RMB/t) 7
3.3 Aluminum alloy 7
3.3.1 Secondary aluminum alloy price down to record low levels 7
Picture 7 Chinese ADC12 aluminum alloy price movement in December 2013 (RMB/t) 8
Picture 8 Chinese A356 aluminum alloy price movement in December 2013 (RMB/t) 8
3.3.2 Orders for secondary aluminum alloy to increase before Spring Festival 9
3.4 Carbon anode 9
3.4.1 Carbon anode price decreases 9
Picture 9 Chinese carbon anode price movement 2013 (RMB/t) 9
3.4.2 Carbon cathode producers get new orders 10
4 International market review 10
4.1 LME aluminum price rebounds in fluctuation 10
LME aluminum cash price went up by USD65/t, or down by 3.82% in December. 10
Picture 10 LME aluminum cash price chart in December 2013(USD/t) 10
4.2 LME Aluminum inventories change rapidly 10
Picture 11 LME aluminum inventories in December 2013 (tons) 11
4.3 Aluminum alloy export price stays low 11
4.4 Bauxite 11
4.4.1 Indonesia bauxite export closes gradually 11
4.4.2 High-held bauxite stocks weighing on the price 11
Picture 12 Chinese bauxite import price by origins 2013 12
4.5 Imported alumina price up 12
Picture 13 Australian origin alumina price movement Jan-Dec, 2013 (USD/t) 13
Picture 14 Australian origin alumina CIF China price movement Jan-Dec, 2013 (USD/t) 13
4.6 Aluminum fluoride export market flat 13
Picture 15 Aluminum fluoride FOB price movement 2013(USD/t) 14
5 Related industry development 14
5.1 Petroleum coke price declines 14
5.2 Aluminum fluoride price keeps stable at a relatively high level 14
Picture 16 Aluminum fluoride price movement 2013 (RMB/t) 15
5.3 Aluminum hydroxide market trading dull 15
Picture 17 Aluminum hydroxide price movement Jan-Dec, 2013 (RMB/t) 16
5.4 Aluminum scrap price stable 16
6 Production data 16
6.1 Primary aluminum 16
6.1.Asian Metal Copyright2 Alumina 29 7.Asian Metal Copyright1 Chinese primary aluminum production up by 15.5% YOY in November 16
Picture 18 China’s primary aluminum production 17
6.1.2 Punitive policy on aluminum-smelting power consumption has little positive influence on restriction on output growth 18
6.2 Aluminum alloy 18
6.2.Asian Metal Copyright1 CPI up 3.Asian Metal Copyright1 59.Asian Metal Copyright1 Bauxite 25 7.Asian Metal Copyright65% Operating rate of Chinese secondary aluminum alloy plants down to 59.65% in December 18
The capacity of the 26 producers accumulated 2.585 million tons per annum. 19
Table 2 Operating rate of Chinese main secondary aluminum alloy plants in December 19
Picture 19 Operating rate of Chinese secondary aluminum alloy plants 19
6.2.Asian Metal Copyright 10 Picture 10 LME aluminum cash price chart in December 2013USDt 10 4.Asian Metal Copyright2 14.Asian Metal Copyright3.Asian Metal Copyright12% Chinese motors sales up by 14. 12% YOY in November 20
Picture 20 Chinese motors sales in 2012 and 2013 (Unit: 10,000) 20
6.3 Alumina 20
6.3.1 Chinese alumina output in Dec almost stable MOM 20
Picture 21 China’s alumina output in 2013 (10,000t) 21
6.3.2 Statistics of alumina stocks in November 22
Picture 22 Alumina consumption by region in November, 2013 (10,000t) 22
6.4 Aluminum fluoride 22
6.4.Asian Metal Copyright5.Asian Metal Copyright1 Chinese aluminum fluoride output up by 0.34% MOM in December 22
Picture 23 Aluminum fluoride output 2013 23
6.4.2 Statistics of aluminum fluoride stocks in December 23
6.5 Carbon anode 24
6.5.Asian Metal Copyright1.Asian Metal Copyright1 Chinese commercial carbon anode output up by 1.3% in December MOM 24
Picture 24 Chinese commercial carbon anode output 2013 25
6.5.2 Statistics of carbon anode stocks in December 25
Table 3 Carbon anode stocks by region in December 25
7 Import & Export data analysis 25
7.1 Bauxite 25
7.1.Asian Metal Copyright1 Chinese carbon anode export down by 0.Asian Metal Copyright1 Chinese November bauxite import down by 22.96% MOM 25
Picture 25 Chinese bauxite import in 2013 26
Picture 26 Chinese bauxite import 2012-2013 26
Picture 27 Chinese bauxite import by origins 2013 27
Table 4 Chinese detailed bauxite import in November 2013 27
Table 5 Chinese bauxite importers in November 28
7.2 Alumina 29
7.2.Asian Metal Copyright2.Asian Metal Copyright1 Alumina import volume up by 19.6% YOY 29
Picture 28 Chinese alumina import Jan-Nov, 2013 (10,000t) 29
7.2.2 Chinese alumina import enterprises glance 29
Table 6 Top10 Chinese alumina import companies in November, 2013 30
7.3 Aluminum alloy 30
7.3.Asian Metal Copyright06% MOM in November 37 Picture 34 Carbon anode export price in 2013 38 8 Outlook for January 39 8.Asian Metal Copyright1 Chinese aluminum alloy exports up by 1.22% YOY in November 30
Picture 29 Chinese aluminum alloy export in 2012 and 2013 31
7.3.2 Chinese top ten aluminum alloy exporters in December 2013 31
Table 7 Chinese top ten aluminum alloy exporters in November, 2013 31
7.4 Aluminum scrap 32
7.4.Asian Metal Copyright1.Asian Metal Copyright1 Chinese aluminum scrap imports up by 0.89% YOY in November 32
The following picture showed Chinese aluminum scraps import in 2012 and 2013 (Unit: ton). 32
Picture 30 Chinese aluminum scraps import in 2012 and 2013 32
7.4.2 Chinese top ten aluminum scrap importers in November 2013 32
Table 8 Chinese top ten aluminum scrap importers in November, 2013 33
7.5 Aluminum semi-products 33
7.5.Asian Metal Copyright6.Asian Metal Copyright1 Chinese aluminum semi-products export up by 11.9% YOY in November 33
The exports from January to November accumulated 2.85 million tons, up by 9% year-on-year. 33
Picture 31 Chinese aluminum semi-products exports 34
7.6 Aluminum fluoride 35
7.6.Asian Metal Copyright 12% YOY in November 20 Picture 20 Chinese motors sales in 2012 and 2013 Unit: 10,000 20 6.Asian Metal Copyright1Chinese aluminum fluoride export down by 6.86% MOM in November 35
Picture 33 Aluminum fluoride FOB price 2013 37
7.7 Carbon anode 37
7.7.Asian Metal Copyright3.Asian Metal Copyright1 Chinese carbon anode export down by 0.06% MOM in November 37
Picture 34 Carbon anode export price in 2013 38
8 Outlook for January 39
8.1 Aluminum ingot price to go down further in fluctuation 39
8.2 Alumina price to linger at low levels 39
8.3 Carbon anode price still has room to fall 40
8.4 Aluminum fluoride price to be stable 40

Picture 1 China’s CPI and PPI in 2011-2013 2
Picture 2 PMI of China’s manufacturing industry in 2011-2013 3
Picture 3 Market price trend of dominant contract of crude oil futures in US in December 4
Picture 4 US dollar index trend 4
Picture 5 Aluminum Ingot price in Chinese market in December 2013 (RMB/t) 6
Picture 6 Chinese origin alumina price movement Jan-Dec, 2013 (RMB/t) 7
Picture 7 Chinese ADC12 aluminum alloy price movement in December 2013 (RMB/t) 8
Picture 8 Chinese A356 aluminum alloy price movement in December 2013 (RMB/t) 8
Picture 9 Chinese carbon anode price movement 2013 (RMB/t) 9
Picture 10 LME aluminum cash price chart in December 2013(USD/t) 10
Picture 11 LME aluminum inventories in December 2013 (tons) 11
Picture 12 Chinese bauxite import price by origins 2013 12
Picture 13 Australian origin alumina price movement Jan-Dec, 2013 (USD/t) 13
Picture 14 Australian origin alumina CIF China price movement Jan-Dec, 2013 (USD/t) 13
Picture 15 Aluminum fluoride FOB price movement 2013(USD/t) 14
Picture 16 Aluminum fluoride price movement 2013 (RMB/t) 15
Picture 17 Aluminum hydroxide price movement Jan-Dec, 2013 (RMB/t) 16
Picture 18 China’s primary aluminum production 17
Picture 19 Operating rate of Chinese secondary aluminum alloy plants 19
Picture 20 Chinese motors sales in 2012 and 2013 (Unit: 10,000) 20
Picture 21 China’s alumina output in 2013 (10,000t) 21
Picture 22 Alumina consumption by region in November, 2013 (10,000t) 22
Picture 23 Aluminum fluoride output 2013 23
Picture 24 Chinese commercial carbon anode output 2013 25
Picture 25 Chinese bauxite import in 2013 26
Picture 26 Chinese bauxite import 2012-2013 26
Picture 27 Chinese bauxite import by origins 2013 27
Picture 28 Chinese alumina import Jan-Nov, 2013 (10,000t) 29
Picture 29 Chinese aluminum alloy export in 2012 and 2013 31
Picture 30 Chinese aluminum scraps import in 2012 and 2013 32
Picture 31 Chinese aluminum semi-products exports 34
Picture 32 Chinese aluminum fluoride exports Jan-Nov (tons) 35
Picture 33 Aluminum fluoride FOB price 2013 37
Picture 34 Carbon anode export price in 2013 38

Table 1 Output of primary aluminum in Chinese major producing areas in December (Unit: 10,000t) 17
Table 2 Operating rate of Chinese main secondary aluminum alloy plants in December 19
Table 3 Carbon anode stocks by region in December 25
Table 4 Chinese detailed bauxite import in November 2013 27
Table 5 Chinese bauxite importers in November 28
Table 6 Top10 Chinese alumina import companies in November, 2013 30
Table 7 Chinese top ten aluminum alloy exporters in November, 2013 31
Table 8 Chinese top ten aluminum scrap importers in November, 2013 33
Table 9 The exporters in November 35
Table 10 Main carbon anode exporters in November 38

.Asian Metal Copyright2 Statistics of carbon anode stocks in December 25 Table 3 Carbon anode stocks by region in December 25 7 Import Export data analysis 25 7Asian Metal Copyright