China Hongqiao Group achieves modest revenue growth of 1.5% with increased sales in aluminium and alumina

China Hongqiao Group Limited, one of the world's largest aluminium producers, released the audited consolidated annual results for the Company and its subsidiaries, covering the fiscal year ending December 31, 2023.

According to Antaike's statistics, global primary aluminium output reached around 70.46 million tonnes during the year, a 2.2 per cent increase from the previous year. Global consumption also rose, reaching approximately 70.14 million tonnes, reflecting a 0.9 per cent increase.

Turning to China, primary aluminium production during the same period amounted to about 41.66 million tonnes, showing a 3.3 per cent year-on-year increase and constituting roughly 59.1 per cent of the world's total production. Meanwhile, China's primary aluminium consumption stood at approximately 42.84 million tonnes, marking a 4.3 per cent increase from the previous year and accounting for about 61.1 per cent of global consumption.