Aluminum market report May 2012

Contents
Abstract 1
1 Financial overview 1
1.1 Chinese domestic financial overview 1
1.1.1 Chinese CPI falls back slightly in April 1
1.1.2 Chinese PMI falls back in May 2
1.1.3 Chinese banks reduce loan increment, economic growth slows down 3
1.2 International financial overview 3
1.2.1 Global crude oil price falls back largely in May 3
1.2.2 Gold price declines as banks financial situation deteriorate in Spain 4
1.2.3 US dollar index increases largely due to risk aversion 5
2 Company news 6
2.1 International company news 6
2.2 Chinese domestic market 7
3 Chinese domestic market review 8
3.1Aluminum ingot market 8
3.1.1Aluminum ingot price fell down back after soar 8
3.1.2 Downstream plants were more prudent with the price getting down 8
3.2 Alumina market 9
3.2.1 Indonesian bauxite export ban hard to push alumina price soon 9
3.3Aluminum alloy 9
3.3.1 Recycled aluminum alloy ingot price down 9
3.3.2 Sales down by 20-30% in recycled aluminum alloy ingot 10
3.3.3 Processing charge of A356 aluminum alloy down 10
3.3.4 Low purchasing and high stocks in A356 aluminum alloy 10
4 International market review 11
4.1LME aluminum price kept sliding down 11
4.2LME aluminum inventories decreased 11
4.3 Export price and foreign demand for Chinese aluminum alloy down 12
4.4 Australian origin alumina market weak 12
4.5 Rising bauxite import price 14
4.6 Rising aluminum fluoride export price 14
5 Related industry development 15
5.1 Rebounding aluminum fluoride price 15
5.2 Sluggish aluminum hydroxide price 16
5.3 Inactive aluminum scraps market 16
6 Production data 17
6.1 Primary aluminum 17
6.1.1 Chinese primary aluminum production changed little in May 17
6.1.2 Smelting plants in Guangxi resume production gradually 17
6.2 Aluminum alloy 17
6.2.1 Chinese aluminum alloy production up by 19% YOY in the first four months 17
6.2.2 Operating rate of Chinese recycled aluminum alloy plant down to 54% in May 18
6.2.3 Stocks of Chinese A356 aluminum alloy go high to 30,000t with slack season coming earlier 19
6.2.Asian Metal Copyright4 Aluminum fluoride 29 7.Asian Metal Copyright4 Chinese motors production down by 12.4% MOM in April 20
6.3 Alumina 21
6.3.Asian Metal Copyright2.Asian Metal Copyright1 Chinese alumina production drops by 0.3% MOM in May 21
6.4 Aluminum fluoride output down by 61.8% MOM in May 22
7 Import & Export data analysis 22
7.1 Bauxite 22
7.1.Asian Metal Copyright4 Australian origin alumina market weak 12 4.Asian Metal Copyright1 Chinese bauxite import up by 29.38% YOY in April 22
7.1.2 Top ten bauxite importers in April 23
7.2 Alumina 24
7.2.Asian Metal Copyright3.Asian Metal Copyright1 Chinese alumina import up by 115.81% YOY in April 24
7.2.2 Top seven alumina importers in April 25
7.3 Aluminum alloy 25
7.3.Asian Metal Copyright2 Alumina 24 7.Asian Metal Copyright1 Chinese aluminum alloy export down by 15.8% YOY in April 25
7.3.2 Top ten aluminum alloy exporters in Apr 2012 26
7.4 Aluminum scraps 27
7.4.1 Chinese aluminum scraps import down by 11% YOY in April 27
7.4.2 Chinese aluminum scraps importers in Apr 2012 28
7.4 Aluminum fluoride 29
7.4.Asian Metal Copyright3Aluminum alloy 9 3.Asian Metal Copyright1Aluminum fluoride export up by 33.3% MOM in April 29
7.4.2 Chinese aluminum fluoride exporters in April 29
8 Outlook for July 30
8.1 Aluminum ingot price hard to rebound 30
8.2 Alumina price steady 30
8.3 Aluminum fluoride market unchanged 30

Picture& Table Column
Picture 1 CPI and PPI of China in 2011-2012 2
Picture 2 Chinese PMI in 2011-2012 3
Picture 3 The price of international crude oil in May 4
Picture 4 The price of gold in May 5
Picture 5 US dollar index in May 6
Picture 6 China aluminum ingot price (RMB/t) 8
Picture 7 Chinese origin alumina price movement in May (RMB/t) 9
Picture 8 China A356 aluminum alloy price in May (RMB/t) 10
Picture 9 LME 3-month Aluminum settlement price trend (USD/t) 11
Picture 10 LME Aluminum inventories in May (tons) 12
Picture 11 Australian origin alumina price movement (USD/t) 12
Picture 12 Australian origin alumina price movement (RMB/t) 13
Picture 13 Major Chinese alumina import price in April (USD/t) 13
Picture 14 Bauxite import price CIF China Jan-April (USD/t) 14
Picture 15 Aluminum fluoride price FOB China Jan-Apr 15
Picture 16 Chinese aluminum fluoride prices movement (RMB/t) 15
Picture 17 Aluminum hydroxide price movement in May (RMB/t) 16
Picture 18 Chinese aluminum alloy production 18
Picture 19 Production and sales of automobile in China (Unit: 10,000) 21
Picture 20 Chinese aluminum fluoride output Jan-May 22
Picture 21 Chinese Bauxite Import in 2012 23
Picture 22 Chinese bauxite import different countries in March 23
Picture 23 Chinese alumina import in 2012 25
Picture 24 Chinese aluminum alloy export to Japan 26
Picture 25 Chinese aluminum scrap import 28
Picture 26 Chinese aluminum fluoride export Jan-Apr (t) 29

Table 1 Nalco’s alumina offer 13
Table 2 Output of electrolytic in Chinese major producing areas in May (Unit: 10,000t) 17
Table 3 Chinese A356 aluminum alloy production in May by region (Unit: ton) 19
Table 4 Chinese alumina output from Jan to May (10,000t) 21
Table 5 Chinese bauxite importer in April, 2012 24
Table 6 Top seven China alumina import companies in March, 2012 25
Table 7 Top 10 aluminum alloy export companies in China in April 27
Table 8 Chinese top ten aluminum scrap importers in April, 2012 (Unit: tons) 28
Table 9 Chinese aluminum fluoride exporters in April 29

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