In January, the major aluminum flat producers saw their sales volume improved slightly over a year earlier. The January sales performance carried out by the four producers including Novels Korea, Choil aluminum, Daeho Al and Morgan aluminum totaled 78,039 metric tons, accounting for a 3.7 percent year on year improvement from 75,289 metric tons. Of which, domestic demand decreased 11.5 percent to 27,956 metric tons while exports soared 14.6 percent to 50,083 metric tons respectively.
By company, Novelis Korea sold a total of 64,968 metric tons aggregating domestic shipment and export alike, recording a 6.3 percent year on year increase, while Daeho Al saw a 1.7 percent growth to 3,006 metric tons. On the other hand, Choil Aluminum sold a total of 9,155 metric tons, down 10.9 percent from a year ago, while Morgan Aluminum faced a 5.9 percent down to 910 metric tons in sales.
Domestic aluminum market experienced export improvement in tandem with the increased demand in Vietnam, China and India when it comes to the major steel items of aluminum container. However, domestic demand and sales volume remained depressed on the economic slump.
In particular, as the trade tensions prolonged between the US and China, the aluminum flat products price becomes vulnerable to stability on the market, and the import from China increases domestic aluminum market remains dampened. Indeed, Daechang AT, one of the major aluminum produces in Korea, decided to suspend the production line as of October 10, last year.
Source: Steel&Metal News |
