In November 2023, primary aluminium production in the Gulf Cooperation Council recorded a month-on-month downfall of 12,000 tonnes or 2.37 per cent to stand at 506,000 tonnes, found the International Aluminium Institute. In October 2023, the output was recorded at 518,000 tonnes, up by 2.98 per cent from 503,000 tonnes in September.
However, on a year-on-year calculation, primary aluminium production in the Gulf Cooperation Council during November 2023 saw a rise of 6,000 tonnes or 1.2 per cent from 500,000 tonnes.
GCC’s daily average primary aluminium production in November 2023 was 16,900 tonnes – 200 tonnes more than in November 2022.
From January to November, GCC’s primary aluminium production totalled 5.603 million tonnes, which also indicated a year-on-year increase of 0.90 per cent from 5.553 million tonnes.
By 2023-end, GCC’s primary aluminium production will surely exceed last year’s output of 6.074 million tonnes as the region needs to produce only 471,000 tonnes in December to match the prior year’s level.
The GCC region is emerging as a significant aluminium production hub in the world, with capacity expansion and new projects coming online. A month ago, Saudi Arabia announced that it aims to double its investment in the aluminium industry to become one of the top ten aluminium producers in the world. So far, the country has infused at least $12 billion into various aluminium projects to expand its production capacity.
The Gulf countries have been becoming a preferred destination for investments, given its zeal to become a top primary aluminium producer. In mid-2023, Fives opened its workshop in Bahrain, which is expected to help grow the local economy and support its industrial strategy.
With all these developments, the GCC countries are much expected to see a stellar growth in primary aluminium production in 2024.
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