Aluminum shipments from China, the world’s biggest producer, fell from the highest level this year amid a decline in global prices.
Sales of unwrought aluminum and products slumped 20 percent to 360,000 metric tons in July from 448,980 tons in June, preliminary customs data showed Saturday. While monthly exports dropped, shipments climbed 28 percent to 2.87 million tons in the first seven months, the data showed.
China is heading for the slowest economic expansion since 1990 and faltering domestic demand combined with excess capacity has spurred a surge of aluminum and steel supply onto world markets, pressuring foreign producers. Prices of the metal used in everything from cans to aircraft fell for the third month in July, declining 4.3 percent, and lost 14 percent this year.
— With assistance by Alfred Cang