The world’s primary aluminium production regained momentum in October 2024 after an intermittent decline of 3.19 per cent in the previous month. Owing to the increase across all the major primary aluminium-producing regions, the world’s output reached a new high in October, exceeding all the earlier records.
Recovering more than what it lost in September, the world’s primary aluminium production in October even exceeded the record volume of 6.205 million tonnes seen in August. According to the International Aluminium Institute’s (IAI) data, the output volume in October grew by 3.56 per cent M-o-M and 1.27 per cent Y-o-Y, reaching 6.221 million tonnes. In September 2024, the world’s primary aluminium output was 6.007 million tonnes; in October 2023, it stood at 6.143 million tonnes.
The daily average output also jumped to a new high at 200,700 tonnes in October 2024, compared to 200,200 tonnes in September 2024 and 198,200 tonnes in October 2023.
From January to October 2024, the world’s primary aluminium production totalled 60.472 million tonnes, up by 2.84 per cent from 58.8 million tonnes during the corresponding period of the previous year. Thus, the global primary aluminium output is away from 10.244 million tonnes to meet the previous year’s volume.
Production across regions
China, the world’s largest primary aluminium producer, returned to its growth trajectory in October 2024, gaining 3.48 per cent M-o-M. From 3.595 million tonnes in September, China’s primary aluminium production in October grew to 3.72 million tonnes, a new high. Annually, the output in the said month increased by 1.8 per cent from 3.655 million tonnes, according to IAI data.
From January to October 2024, China produced 36.034 million tonnes of primary aluminium against 34.651 million tonnes during the same period of the earlier year. That reflected a year-on-year increase of 3.99 per cent.
Last week, the Shanghai Metals Market (SMM) also released its survey, coming up with similar data of 3.702 million tonnes of output. The M-o-M growth rate was 3.58 per cent, attributed to the resumption of capacities from technical renovations in Sichuan and Guizhou and new capacities into operation in Xinjiang. SMM also revealed the domestic operating rate increased to 95.74 per cent over the year.
The Gulf Cooperation Council, the world’s second-highest primary aluminium producer after China, produced 529,000 tonnes in October, up by 2.72 per cent M-o-M, but could not touch the record volume of 531,000 tonnes seen in August.
From January to October, the GCC regions produced 5.212 million tonnes of primary aluminium versus 5.177 million tonnes a year earlier.
Percentage-wise, Russia & Eastern Europe gained maximum in October compared to the other regions. According to IAI, primary aluminium production in Russia & Eastern Europe increased 4.62 per cent M-o-M from 346,000 tonnes to 362,000 tonnes. In ten months, the region produced 3.456 million tonnes in total, registering a Y-o-Y increase of 3.5 per cent from 3.339 million tonnes.
