According to the International Aluminium Institute, world alumina production in February 2024 recorded a fall of 6.89 per cent month-on-month, primarily attributed to fewer calendar days. In this respect, it should be mentioned that the world alumina output started the year with a downtrend, with January production at 11.905 million tonnes, down by 1.43 per cent from 12.078 million tonnes in December 2023.
The deflation continued in the subsequent month (February 2024), bringing the world's alumina production to 11.085 million tonnes. However, compared with the same period last year, the world's alumina production in February 2024 stood 5.99 per cent higher than 10.459 million tonnes.
The combined production from January to February 2024 also edged a year-on-year hike of 4.22 per cent from 22.059 million tonnes to 22.990 million tonnes. Therefore, it can be said that world alumina production is otherwise on a growing path, suggesting a resilient industry that is experiencing overall expansion over the long term despite short-term fluctuations.
Monthly falls could be attributed to temporary disruptions in the supply chain, such as transportation bottlenecksor logistical challenges, which can affect short-term production levels.
The daily average production in February 2024 was 382,200 tonnes, slightly down by 0.47 per cent month-on-month from 384,000 tonnes but up by 2.33 per cent year-on-year from 373,500 tonnes.
Going by the trend, China's alumina production also recorded a month-on-month fall of 6.45 per cent to 6.277 million tonnes, marking the second consecutive month of fall. In January 2024, China's alumina output was 6.71 million tonnes, down by 2.33 per cent from 6.87 million tonnes in December 2023. However, on a year-on-year basis, China's alumina production in February 2024 stood 6 per cent higher than 5.92 million tonnes.
China's total production during January-February 2024 was 12.987 million tonnes, up by 4.23 per cent from 12.460 million tonnes. China's alumina production in February 2024 accounted for 56.62 per cent of the world's total output.
China's daily average production in February was 216,400 tonnes, mostly unchanged compared to 216,500 tonnes but 2.37 per cent more than 211,400 tonnes.
Oceania, the world's second-largest producer of alumina, churned out 1.44 million tonnes of ore in February 2024, which stood 12.73 per cent less than 1.65 million tonnes a month ago but 2.86 per cent more than 1.4 million tonnes a year earlier.
The region's total production in the first two months of 2024 amounted to 3.09 million tonnes, down by 0.96 per cent from 3.12 million tonnes annually.
