The world's primary aluminium production in October 2023 experienced a month-on-month rise after a fall in the previous month, found the International Aluminium Institute. Data shows the output recorded an increase of 3.29 per cent from 5.921 million tonnes in September to 6.116 million tonnes in October 2023. Last month, the world's primary aluminium production was 2.15 per cent less than 6.051 million tonnes in August.
On a year-on-year basis, the global output in October edged a hike of 3.91 per cent from 5.886 million tonnes, according to IAI. The accumulated production volume of primary aluminium across the globe from January to October 2023 amounted to 58.592 million tonnes, up by 2.11 per cent from 57.381 million tonnes during the corresponding period of the previous year.
In 2022, the world's primary aluminium production volume of 69.038 million tonnes indicates that this year, the target is to churn out 10.446 million tonnes more in the remaining two months to match the previous year's level. Thus, on average, the output should be 5.223 million tonnes each month, which seems to be achievable. According to AL Circle's research estimate, the world's primary aluminium output is likely to reach 70 million tonnes in 2023. For the last year, the projection was 68.2 million tonnes, according to AL Circle's report "Aluminium Industry Outlook 2023".
However, the global industry fraternity is looking forward to the production in China during November and December, given the beginning of output cut in Yunnan due to the dry season from November to March. Yunnan province is the fourth largest producer of primary aluminium in China, with a capacity of 5.7 million tonnes, which accounts for 12 per cent of China's total capacity. For this year's dry season, aluminium smelters in Yunnan are directed to reduce 1.5 million tonnes of capacity.
In October, however, China's primary aluminium production was recorded month-on-month higher by 2.82 per cent at 3.650 million tonnes versus 3.550 million tonnes in September. On a year-on-year basis, the output registered a rise of 5.49 per cent from 3.460 million tonnes.
Considering China's total output of 40.430 million tonnes in 2022, the country is expected to meet the level, given its 34.624 million tonnes of production year-to-date.
The world's primary aluminium production grew in October 2023 but with a lesser daily average production rate than in the previous month. According to IAI, the global daily average primary aluminium output stood at 197,400 tonnes in October compared to 197,300 tonnes in September 2023.
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