According to International Aluminum Institute (IAI) data released yesterday, global aluminum production jumped 4% year over year in October.
Global aluminum production hit 5.4 million metric tons in October, up from 5.2 million metric tons in October 2017. The October production total also marked an increase from the previous month, when production hit 5.3 million metric tons.
Estimated Chinese production constituted 57% of global production, with 3.05 million metric tons in October (up 1.3% from 3.01 million metric tons in September).
On a year-over-year basis, October Chinese production jumped 7.0% from October 2017’s 2.85 million metric tons.
For the January-October period, Chinese production held just about flat, with 30.231 million tons in the 10-month period in 2017 and 30.227 million tons for the same period in 2018.
Reuters reported earlier this month that lower aluminum prices have prompted a decline in Chinese production in recent months, even before winter cuts take a bite into production total. According to the report, Shanghai aluminum prices fell 2.1% in October.
The most-traded aluminum contract on the SHFE opened at 13,730 yuan per ton yesterday ($1,977 per ton).
Asian production not including China hit 377,000 tons, up from 364,000 tons in September and 352,000 tons in October 2017.
Meanwhile, North American aluminum production hit a 2018 monthly high in October at 323,000 metric tons, up 4.2% from September’s 310,000 metric tons. On a year-over-year basis, the October total marked a 3.6% decrease from October 2017 production.
North American production through the first 10 months of the year hit 3.127 million tons, down from the 3.291 million tons during the same period in 2017.
Production in East and Central Europe hit 343,000 tons in October, up from 332,000 tons the previous month, and up slightly from 342,000 tons in October 2017.
Production in Western Europe hit 321,000 tons in October, up 2.9% from September’s 312,000 tons. On a year-over-year basis, production rose 0.3% from October 2017’s 320,000 tons.
by Fouad Egbaria