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REUTERS/Stringer/File Photo Acquire Licensing RightsLONDON, Nov 3 (Reuters) - Another month, another new record for China's primary aluminium production sector. Power availability is proving to be as effective a cap on China's aluminium production as any government mandate. Some of that production capacity has only just been powered up after a previous round of restrictions was lifted in June. And an increasingly significant one as ever more Chinese aluminium capacity migrates from north to south to lower the carbon footprint. Rainfall in Yunnan is now the key determinant of China's primary aluminium production capacity.
Persons: Stringer, John Kemp, wean, Paul Simao Organizations: REUTERS, International Aluminium Institute, China Southern Power, AZ Consulting, China Hongqiao, HK, Reuters, Thomson Locations: Zouping, Shandong province, China, Beijing, Yunnan, YUNNAN, It's, Shandong
Purchasing managers' indexes (PMIs) for factory powerhouses China, Japan and South Korea showed activity shrinking while Vietnam and Malaysia also struggled with the broadening fallout from a Chinese slowdown. "Overall, manufacturers were not in high spirits in October," said Wang Zhe, an economist at Caixin Insight Group, on China's survey outcome. Japan's factory activity shrank for a fifth straight month in October, the final au Jibun Bank PMI showed. South Korea's factory activity fell for the 16th straight month while PMIs from Taiwan, Vietnam and Malaysia also showed continued declines in activity. The International Monetary Fund (IMF) has warned that China's weak recovery and the risk of a more protracted property crisis could further dent Asia's economic prospects.
Persons: Stringer, Wang Zhe, Leika Kihara, Sam Holmes Organizations: REUTERS, PMI, P Global, Caixin Insight, Jibun, Murata Manufacturing, Monetary Fund, IMF, Thomson Locations: Zouping, Shandong province, China, Japan, South Korea, TOKYO, Vietnam, Malaysia, PMIs, Taiwan, Asia
[1/2] Employees work at the production line of aluminium rolls at a factory in Zouping, Shandong province, China November 23, 2019. The drop in factory gate prices was unexpected because China's economic activity returned to growth in January. The official purchasing managers' index (PMI), which measures manufacturing activity, crossing the 50-point threshold for the first time since September. Falling input prices, including chemicals, as well as lower crude oil and domestic coal prices contributed to the greater-than-expected decline. Core inflation, which excludes food and energy prices ticked up to 1.2% last month from an annual gain of 0.7% in December.
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