World Aluminum Production Expansion Intensifies

SUMMARY: World primary aluminum production expanded in October at its strongest y/y pace in over two years, while production run rates consolidated at an all-time high prior to China’s seasonal curtailments. ROW’s production growth to take the lead in 2024 and reach… mton for the first time in 13 years.

• World primary aluminum production rose in October by 4.7% y/y or 3.2 million mtpy…
• … consolidating m/m its annualized production run rate at an all-time high near… million mtpy…
• In Q4 2023, a temporary pause in the world’s quarterly primary aluminum production growth is…
• HARBOR projects ROW’s primary aluminum production to grow in 2024 by… mton after an estimated increase of … mton in 2023.