According to the latest data released by the International Aluminum Association (IAI), global primary aluminum production is showing a stable growth trend. If this trend continues, the global monthly production of primary aluminum is expected to exceed 6 million tons by December 2024, achieving a historic leap.
According to IAI data, global primary aluminum production has increased from 69.038 million tons to 70.716 million tons in 2023, with a year-on-year growth rate of 2.43%. This growth trend indicates a strong recovery and continued expansion of the global aluminum market. If the production in 2024 can continue to increase at the current growth rate, the global primary aluminum production may reach 72.52 million tons by the end of this year (i.e. 2024), with an annual growth rate of 2.55%.
It is worth noting that this forecast data is close to AL Circle’s preliminary prediction of global primary aluminum production in 2024. AL Circle had previously predicted that global primary aluminum production would reach 72 million tons by 2024. The latest data from IAI undoubtedly provides strong support for this prediction.
Despite the steady increase in global primary aluminum production, the situation in the Chinese market requires close attention. Due to the winter heating season in China, the implementation of environmental policies has put pressure on some smelters to reduce production. This factor may have a certain impact on the growth of global primary aluminum production.
Therefore, for the global aluminum market, it is particularly important to closely monitor the dynamics of the Chinese market and changes in environmental policies. At the same time, aluminum companies in various countries also need to strengthen technological innovation and industrial upgrading, improve production efficiency and product quality, in order to cope with increasingly fierce market competition and constantly changing market demands.
Post time: Dec-30-2024