Upward trajectory of China’s primary aluminium production is leaving strain on the alumina market

China achieved a record-high production of primary aluminium, reaching 3.65 million tonnes in May 2024, comparable to output levels seen in August and September of the previous year. This surge is bolstered by the restarting of smelters in Yunnan after a prolonged shutdown, promising an annual output of 43 million tonnes. However, this upward trajectory has significantly affected the alumina market, the key raw material for aluminium production, resulting in constrained supply and fluctuating ore prices.

Alumina price movement
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