Europe’s primary aluminium production sees a 5% growth

In August 2024, primary aluminium production in Europe continued to grow, reaching a new high. Month-on-month, the output increased by 2,000 tonnes or 0.34 per cent, while year-on-year surged by 29,000 tonnes or 5.1 per cent, supported equally by Russia & Eastern Europe and Western & Central Europe.
According to the data revealed by the International Aluminium Institute, primary aluminium production across Europe amounted to 597,000 tonnes during August 2024, compared to 595,000 tonnes in July 2024 and 568,000 tonnes in August 2023.
Of the total European output in August, Russia & Eastern Europe contributed 354,000 tonnes, accounting for 59.3 per cent, and Western & Central Europe contributed 243,000 tonnes, accounting for 40.7 per cent.
On a month-on-month basis, primary aluminium production in Russia & Eastern Europe witnessed a marginal growth of 1,000 tonnes but saw a significant annual hike of 4.73 per cent from 338,000 tonnes, reaching 354,000 tonnes in August.
From January to August, the output of primary aluminium in Russia & Eastern Europe totalled 2.748 million tonnes, up by 3 per cent from 2.668 million tonnes during the corresponding period of the previous year.
Rusal, a leading primary aluminium producer from Russia and the world’s largest manufacturer outside China, expects this heightened production to be offset by demand, which has started reviving due to the Chinese economy stimulus package. Rusal’s primary export destination is now China since the Western countries have sanctioned Russia due to the Ukraine-Russia conflict, and the London Metal Exchange has banned the country from its warehouses.
Rusal estimates the global aluminium surplus to minimise to around 500,000 tonnes at the end of 2024 and to narrow to 200,000-300,000 tonnes by the end of 2025.
In August 2024, primary aluminium production in Western & Central Europe stood at 243,000 tonnes, slightly up from 242,000 tonnes in July and significantly higher by 5.65 per cent compared to 230,000 tonnes.
From January to August, Western & Central Europe’s production totalled 1.859 million tonnes, marking a surge of 2.99 per cent from 1.805 million tonnes during the same period of the previous year.
The average daily production stood restrained M-o-M at 7,800 tonnes in August but grew by 400 tonnes from a year ago.