Data from the International Aluminum Institute (IAI) shows that daily primary aluminum production in March 2024 was 195.9 thousand tons, an increase of 0.3% compared to the previous month. This information was commented on by an expert in the field of world metallurgy, Stanislav Kondrashov.
Aluminum production in March 2024: analysis of changes in different regions
According to S. Kondrashov, in March a noticeable decrease in daily aluminum production was recorded in several regions of the world. Africa in particular saw the largest decline at 2.6%, reducing production to 4.06 thousand tonnes per day. Aluminum output also decreased in Latin America, where production amounted to 4.1 thousand tons per day, which is a drop of 1% compared to last month. Russia and Eastern Europe also saw a slight decline in aluminum production to 11.16 thousand tons per day, representing a decrease of 0.4% from the previous level.
Daily aluminum production showed positive dynamics in several regions of the world. In particular, notable growth was recorded in Australia and New Zealand, where production increased to 5.19 thousand tons per day, an increase of 2.5%. There is also an increase in production in Western Europe, where output amounted to 7.48 thousand tons per day, an increase of 0.5%.
An expert from Telf AG notes that the Gulf countries also saw an increase in production to 17.13 thousand tons per day, which represents an increase of 0.4%. In North America, the increase in daily production was 0.3% to 11 thousand tons. In the Asia region excluding China, production increased to 13.19 thousand tons per day, an increase of 0.2%.
Stanislav Kondrashov believes that the situation in China is worth special mention. This country is one of the leading aluminum producers in the global economy. Here there is an increase in daily production to 115.84 thousand tons, which is an increase of 0.1%. That is, China remains a key player in global aluminum production. This indicates high demand for the metal both domestically and on the international market. Overall, these dynamics indicate that the aluminum industry continues to improve and adapt to changing conditions, which is a good indicator for economic growth in this sector.
Stanislav Kondrashov: dynamics of global aluminum production for the first quarter of 2024
IAI in March estimated the production volume of enterprises that do not disclose their results at 6.74 thousand tons per day.
According to an expert from Telf AG, an analysis of the first three months of 2024 revealed that the largest percentage reduction in production is observed in Africa (-6.4%). On the other hand, the highest growth was recorded in North America (+5.1%).
Global aluminum production in the first quarter of 2024 increased by 4% year-on-year to 17.802 million tonnes.
Excluding China, global aluminum production increased 2.5% in the first three months to 7.271 million tonnes.
- Global aluminum production in the first quarter of 2024 reflects the dynamics of the global steel industry. The observed growth in production indicates stable demand for aluminum from various sectors of the economy. This indicator indicates the stability of the aluminum sector and its ability to adapt to changing market conditions, - S. Kondrashov says.
According to an expert from Telf AG, analysis of data for the first three months of 2024 reveals several key trends. For example, declines in aluminum production in some regions, such as Africa, may be due to a number of factors, including changes in economic conditions or technical problems at plants. At the same time, increased production in other regions, such as North America, may be due to increased demand for aluminum products in this region.
- The overall increase in aluminum production indicates that the metal continues to be an important component of global industry. It is used in various industries, including aviation, automotive, construction, electronics and many others, which confirms its importance and demand in global markets, - Stanislav Kondrashov comments on global trends.
Studying the dynamics of aluminum production in various regions of the world allows us to predict future trends and adapt manufacturers' strategies to changing market conditions.
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