Global aluminum production hits records

According to the International Aluminium Institute data (IAI), global primary aluminum production in 2022 was 2% higher than the level recorded a year ago. Thus, this industry managed to hit a record, despite the energy crisis, due to which the production did not operate at its full capacity. 

The rise in aluminum production was majorly driven by China. In December 2022, local companies produced about 3.47 million tons of the metal. This figure is 11.6% higher than the one recorded in December 2021. This year-end surge helped to increase the annual production to 40.39 million tons, which exceeds the level of 2021 by 4%.

The Persian Gulf countries also demonstrated a significant rise in the production of the metal. In December 2022, this region produced 520,000 tons of aluminum. This figure was 1.6% lower in 2021. As a result, the annual output increased by 3.1% to 6.07 million tons.

Asian countries, except for China, hit the level of 4.59 million tons in 2022, thereby exceeding the results of 2021 by 2.2%.

Last year, primary aluminum production also rose in Africa. The annual output was 1.62 million tons. It increased by 2% compared to last year. In South America, the annual metal output was slightly lower, at the level of 1.29 million tons. However, the increase from the previous year was more significant at 10.7%. In December, it even exceeded 20%.

Company MarketCheese
Period: 26.11.2024 Expectation: 2840 pips
Selling USDJPY with target at 152.00 influenced by BoJ policy
Yesterday at 09:37 AM 63
Elena_Dorokhina
Elena_Dorokhina

Listed among the best MarketCheese authors
1st in the segments "Currencies", "Metals" and "Oil and gas"
Period: 25.11.2024 Expectation: 700 pips
EURUSD can not move far away from 1.052 level yet
20 November 2024 68
Period: 12.12.2024 Expectation: 2080 pips
Canadian statistics reverse USDCAD to selling
20 November 2024 57
Elena_Dorokhina
Elena_Dorokhina

Listed among the best MarketCheese authors
1st in the segments "Currencies", "Metals" and "Oil and gas"
Period: 30.11.2024 Expectation: 660 pips
Selling AUDCAD to 0.9040
20 November 2024 32
Nikolai
Nikolai

Listed among the best MarketCheese authors
3rd in the segment "Currencies"
Period: 22.11.2024 Expectation: 1000 pips
GBPUSD begins to recover from six-month lows
19 November 2024 80
Period: 16.12.2024 Expectation: 11500 pips
BTCUSD correction intensifies selling with target down to 80,000
19 November 2024 75
Alexandra_Belova
Alexandra_Belova

Listed among the best MarketCheese authors
2nd in the segments "Currencies" and "Oil and gas"
Go to forecasts