22 July 2024 – In the first half of 2024, Chinese aluminum production rose to its highest level since 2014. However, demand for the important light metal is also rising in other parts of the world, such as Brazil and the European Union. The United States recorded year-on-year demand growth for aluminum of more than 4% in the first quarter.
Chinese aluminum production at record level
According to the National Bureau of Statistics (NBS), Chinese primary aluminum production reached its highest level in almost a decade in June of this year. The first half of the year (H1) saw an increase of around 7% as producers ramped up production in the face of rising demand and profits.
According to NBS data, China produced about 3.67 million tons of primary aluminum in June, up 6.2 percent year-on-year. This is the highest level since 2014.
US aluminum demand up 4.3% in the first quarter
Increased demand for aluminum compared to the previous year is also being reported from other parts of the world. The Aluminum Association in the United States reported just a few weeks ago that demand on the domestic US market had risen by 4.3%.
In line with this, US market sources report that aluminum scrap is currently in short supply in the United States as domestic producers are buying the market short.
Global aluminum demand on the rise
Similar reports of a significant increase in production and demand for aluminum are also coming from the European Union, Brazil and Japan, for example.
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