January annualized global aluminum production lowest in 10 months

 

 

According to Harbor, daily primary aluminum production declined by 0.9% from the prior month, or 388,548 annualized metric tons, to a run rate of 43 million tons. This was the lowest rate since March 2011.

 

 

In year-on-year terms, the pace of growth in global output slowed to 6.9% from 9.5% in December and 10.4% in November. In January, the entire monthly decline came from outside China.

 

 

In China, primary output grew by 1.1% month on month, or 88,387 annualized tons, to a 17.8 million-ton run rate, with the gain mainly from ongoing ramping up of capacity in western provinces, especially in Qinghai.

 

 

Nevertheless, in the rest of the world, output suffered its largest monthly decline in more than 10 years as it was down by 2.2% month on month, or 576,935 annualized tons, to a one-year low run rate of 25.2 million tons, Harbor added.

 

 

Output cuts and disruptions announced in December and January became evident in January data, Harbor concluded.