Aluminum market report February 2013

Contents
Abstract 1
1 Financial overview 1
1.1 domestic finance and economics 1
1.1.Asian Metal Copyright1.Asian Metal Copyright1 CIP up by 1.Asian Metal Copyright4 Carbon anode 11 3.Asian Metal Copyright2, PPI down by 1.6% y-o-y in January 1
1.1.2 Chinese PMT above the critical point in the fifth consecutive month 2
1.2 International financial overview 3
1.2.1 International crude oil futures price hikes and drop in February 3
1.2.2 European debt remains in a shadow US dollar index sees strong rebounds 4
1.2.3 Nonferrous metals prices to keep fluctuating with more global labile factors 5
2 Company news 5
2.1 International company news 5
2.2 Chinese domestic company news 6
3 Chinese domestic market review 8
3.1 Aluminum ingot market 8
3.1.1 Aluminum ingot price dropped continuously 8
3.1.2 Operation in Chinese aluminum processing plants quite low after the holidays 9
3.2 Alumina market 9
3.2.1 Chinese alumina price lingers at low levels 9
3.3 Aluminum alloy 10
3.3.1 ADC12 aluminum alloy price lingering at a low level 10
3.3.2 Slack purchasing in secondary aluminum alloy market 11
3.4 Carbon anode 11
3.4.1 Carbon anode market keeps slack 11
3.4.2 Carbon cathode market slack 12
4 International market review 12
4.1 LME aluminum price back to the levels below USD2,000/t 12
4.2 LME aluminum inventories changed frequently 13
4.3 Chinese aluminum alloy export price up but turned to drop in late Feb 13
4.4 Chinese bauxite import price unchanged 14
4.5 Australian alumina CIF price increases obviously 14
4.6 Aluminum fluoride export market goes up despite sluggish aluminum ingot market 16
5 Related industry development 17
5.1 Petroleum coke and coal tar pitch prices increases a bit 17
5.2 Aluminum fluoride price keeps stable 17
5.3 Aluminum hydroxide market keeps relatively stable 18
5.4 Slack purchasing in aluminum scraps market with firm offers 18
6 Production data 20
6.1 Primary aluminum 20
6.1.1 Some smelting plants cut production in February 20
6.1.2 Increase of running capacities slows down in Xinjiang 21
6.2 Aluminum alloy 21
6.2.Asian Metal Copyright2 International financial overview 3 1.Asian Metal Copyright1 Operating rate of Chinese secondary aluminum alloy plants down to 23.9% in Feb 21
6.2.3 Chinese motors production up by 10% in Jan MOM 22
6.3 Alumina 23
6.3.Asian Metal Copyright1 Carbon anode market keeps slack 11 3.Asian Metal Copyright1 Chinese alumina production up by 1.54% MOM in February 23
6.4 Aluminum fluoride 24
6.4.Asian Metal Copyright6 Aluminum Fluoride 35 7.Asian Metal Copyright1 Chinese aluminum fluoride output down by 23.5% in February MOM 24
6.4.2 Statistics of aluminum fluoride stocks in January 25
6.5 Carbon anode 26
6.5.Asian Metal Copyright1 ADC12 aluminum alloy price lingering at a low level 10 3.Asian Metal Copyright1 Chinese carbon anode output up by 1.4% MOM in February 2013 26
6.5.2 Statistics of carbon anode stocks in January 27
7 Import & Export data analysis 28
7.1 Bauxite 28
7.1.Asian Metal Copyright1 Chinese aluminum fluoride output down by 23.Asian Metal Copyright1 Chinese bauxite import up by 67.59% year-on-year in Jan 28
7.1.2 Australian bauxite price up a bit in Jan 29
7.2 Alumina 30
7.2.Asian Metal Copyright1.Asian Metal Copyright1 Chinese alumina import up by 25.64% YOY in January 30
7.2.2 Top9 alumina importers in January 30
7.3 Aluminum alloy 31
7.3.1 Chinese aluminum alloy export in Jan down by 20% YOY 31
7.3.2 Chinese top ten aluminum alloy exporters in Jan 2013 32
7.4 Aluminum scrap 32
7.4.Asian Metal Copyright5 Carbon anode 26 6.Asian Metal Copyright1 Chinese aluminum scraps import down by 3.47% in 2012 YOY 32
7.4.2 Chinese top ten aluminum scrap importers in Dec 2012 33
7.5 Aluminum semi-products 34
7.6 Aluminum Fluoride 35
7.6.Asian Metal Copyright2.Asian Metal Copyright1 Chinese aluminum fluoride export up by 64.5% YOY in Jan 35
7.6.2 Chinese aluminum fluoride export price by countries 36
7.7 Chinese carbon anode export volume down by 55.6% MOM in February 37
8 Outlook for November 38
8.1 Aluminum ingot price may rebound a bit in March 38
8.2 Alumina market hard to rebound due to low aluminum ingot price 38
8.3 Carbon anode price may keep stable 38
8.4 Aluminum fluoride price remains firm 38

Picture& Table Column
Picture 1 Chinese CPI and PPI during 2011-2013 2
Picture 2 Chinese PMI during 2011-2013 3
Picture 3 Futures price of US crude oil in dominant contracts in February 4
Picture 4 US dollar index 4
Picture 5 Aluminum Ingot price in Chinese market (RMB/t) 9
Picture 6 Chinese origin alumina price movement Jan-Feb, 2013 (RMB/t) 10
Picture 7 Chinese ADC12 aluminum alloy price movement in Feb 11
Picture 8 LME aluminum cash price chart (USD/t) 13
Picture 9 LME aluminum inventories (tons) 13
Picture 10 Chinese bauxite import prices by countries 14
Picture 11 Australian origin alumina price movement Dec, 2012-Feb, 2013 (USD/t) 15
Picture 12 Australian origin alumina CIF China price movement Jan-Feb, 2013 (USD/t) 15
Picture 13 Chinese aluminum fluoride export price by long-term contract in Jan (USD/t) 16
Picture 14 Chinese aluminum fluoride export price in spot market Jan-Feb (USD/t) 17
Picture 15 Aluminum fluoride price movement in Feb 2013 (RMB/t) 18
Picture 16 Aluminum hydroxide price movement Feb, 2012-Feb, 2013 (RMB/t) 18
Picture 17 Chinese motors production in 2012 and 2013 (Unit: 10,000) 23
Picture 18 China’s alumina production in 2013 (10,000t) 23
Picture 19 Aluminum fluoride output in Feb 25
Picture 20 Aluminum fluoride consumption by region in Jan 26
Picture 21 Chinese carbon anode output in Feb 27
Picture 22 Carbon anode consumption by region in Jan 28
Picture 23 Chinese bauxite import in 2012 29
Picture 24 Chinese alumina import Jan-Feb 2013 (10,000t) 30
Picture 25 Chinese aluminum alloy export in 2012 and 2013 (Unit: ton) 32
Picture 26 Chinese aluminum scraps import in 2011 and 2012 33
Picture 27 Chinese aluminum semi-products export in 2012 34
Picture 28 Carbon anode export price in Jan 37

Table 1 Chinese Carbon anode price by region on 27 Feb 12
Table 2 28 Feb Chinese aluminum scrap prices by region 19
Table 3 Output of primary aluminum in Chinese major producing areas in February (Unit: 10,000t) 20
Table 4 Chinese secondary aluminum alloy production in Feb 21
Table 5 Chinese bauxite import in January is as follows: 28
Table 6 Chinese bauxite import price by countries in Jan 29
Table 7 Top ten Chinese bauxite importers in Jan 29
Table 8 Top9 Chinese alumina import companies in January 2013 30
Table 9 Chinese top ten aluminum alloy exporters in Jan 2013 32
Table 10 Chinese top ten aluminum scrap importers in Dec 2012 33
Table 11 Chinese aluminum fluoride export by countries 35
Table 12 Chinese aluminum fluoride export price by countries 36
Table 13 Chinese aluminum fluoride exporters in Jan 36
Table 14 Main carbon anode exporters in Jan 37

.Asian Metal Copyright3 Chinese aluminum alloy export price up but turned to drop in late Feb 13 4Asian Metal Copyright