Alumina production in Europe (incl. Russia) marks 4.76% Q-o-Q influx with a bearish outlook for 2023's end

In September 2023, alumina production in Europe (incl. Russia) stopped at 550,000 tonnes, lower by 1,000 tonnes or 0.18 per cent Month-on-Month from 551,000 tonnes recorded on August 2023, whereas, on a Quarter-on-Quarter scale, there has been an increase of 25,000 tonnes or 4.76 per cent from 525,000 tonnes registered in June 2023, as per IAI data. 

During Q3 2023, the total alumina produced in Europe (incl. Russia) amounted to 1.650 million tonnes, which plummeted by 319,000 tonnes or 16.2 per cent from 1.969 million tonnes marked in Q3 2022.

International Aluminium Institute (IAI) claims alumina production in Europe (incl. Russia) during Q2 2023 was 1.590 million tonnes, which accelerated to 1.650 million tonnes in Q3 2023, gaining 60,000 tonnes or 3.77 per cent.

The total world alumina production in 2022 stood at 142.227 million tonnes, from which only 5.78 per cent could be attributed to Europe (incl. Russia). In 2022, alumina production in Europe (incl. Russia) was 8.219 million tonnes.

Similarly, the world production of alumina during Q1, Q2 and Q3 2023 was 106.012 million tonnes, within which Europe (incl. Russia) accounted for only 4.53 per cent. In the first three quarters of 2023, the alumina production in Europe (incl. Russia) halted at 4.806 million tonnes.

The last quarter of 2023 is yet to come, and we can already see a slight dip in European alumina production, while world production depends on various socio-economic and geo-political occurring. The prevailing conflict between Israel and Hamas brings a gush of concern for the European market as most of the trade routes are directly connected with the Middle East. However, traders are optimistic about the demand for aluminium due to its rising use in the transportation and construction sector.