 |
| Aluminium |
Yunnan and Inner Mongolia Lead, While Africa and Europe Post Strong Gains
Global aluminium production surged to 6.25 million tonnes in January, marking a 2.73% increase compared to the same month last year. The rise was driven largely by record-high output from China, according to new data released by the International Aluminium Institute. January’s figure matches the revised all-time record from December, underscoring a robust start to 2024.
China, the world’s dominant aluminium producer, led the global gains with a monthly output of 3.74 million tonnes. This represents a 3.74% year-on-year increase and sets a new national monthly record. The production boost was supported by expanded smelting capacity in Inner Mongolia and consistent operations in Yunnan province. These regions have become central to China’s aluminium growth due to their access to clean energy and favorable local policies.
Strong domestic demand and continued profitability in the sector have encouraged Chinese producers to run their operations at maximum capacity since late 2023. This momentum is expected to sustain Chinese output as a major driver of global supply in the months ahead.
Regionally, Africa posted the largest growth rate, rising 7.87% year-on-year to 137,000 tonnes. Europe, including Russia, saw output increase by 3.29% to 597,000 tonnes. South American producers also contributed to the upward trend, delivering 131,000 tonnes—up 3.15% from the previous year.
Asia excluding China reported a slight increase to 411,000 tonnes. North America experienced a small decline, dropping by 2,000 tonnes to 337,000 tonnes. The Middle East held steady at 541,000 tonnes, while Oceania’s production fell by 1.88% to 157,000 tonnes.
China’s ongoing expansion in aluminium production is expected to play a central role in shaping global market dynamics throughout 2024. As more capacity comes online and margins remain healthy, China’s dominance in the sector will likely continue to set the pace for international supply.
Tags
NONFE
