May sets a new monthly high for global aluminum production

aluminum

In May, global aluminum production reached a new monthly record, driven largely by continued increases in China, where recent heavy rains in Yunnan province restored hydropower capacities, allowing the lifting of previous power restrictions.

According to International Aluminium, the worldwide production of aluminum surged to 6.13 million tons in May, marking a 3.44 percent increase year-over-year. Daily production also saw a rise to 197,900 tons per day, up from the 196,900 tons per day reported in April.

In China, aluminum production jumped nearly 5 percent from last year to 3.65 million tons, approaching the record levels seen in October. Yunnan’s aluminum facilities, previously offline, are now operational again.

Hydropower generation in China has increased by 8.4 percent in the first four months of the year, spurred by heavy and record-breaking rainfall in Guangdong province, enhancing the water supply for hydropower in Sichuan and Yunnan provinces.

Production gains were also noted in other parts of the world. North America’s output rose nearly 3 percent to 338,000 tons, while Western Europe experienced a more than 3 percent increase to 236,000 tons, driven by increased activity at Trimet’s aluminum smelting operations in Germany and France.

Elsewhere in Asia (excluding China), aluminum production rose nearly 3 percent to 407,000 tons in April. South American output saw a significant increase of nearly 6 percent to 129,000 tons.

Production in Russia and Eastern Europe grew by approximately 2.35 percent to 348,000 tons, and output in Australasia was up nearly 2 percent to 163,000 tons.

However, production dipped slightly in the Middle East by less than 1 percent to 525,000 tons, and in Africa, it fell by over 5 percent to 129,000 tons.

Aluminum prices on the London Metal Exchange were notably volatile throughout May, fluctuating between a low of $2,530 per ton on May 8 and a high of $2,741 per ton on May 29, with prices moving erratically between those dates. Prices have trended downward in June, settling around $2,500 per ton so far.