The latest data released by the International Aluminum Association (IAI) shows that global primary aluminum production is growing steadily. If this trend continues, by December 2024, Global monthly primary aluminum production is expected to exceed 6 million tons, a new record.

Global primary aluminum production in 2023 has increased from 69.038 million tons to 70.716 million tons. Year-on-year growth rate was 2.43%. This growth trend heralds a strong recovery and continued expansion in the global aluminum market.

According to the IAI forecast, if production can continue to grow in 2024 at the current rate. Through this year (2024), Global primary aluminum production is likely to reach 72.52 million tons, with an annual growth rate of 2.55%. This forecast is close to AL Circle’s preliminary forecast for global primary aluminum production in 2024. AL Circle Has previously predicted that global primary aluminum production will reach 72 million tons in 2024. However, the situation in the Chinese market needs close attention.

Currently, China is in the winter heating season, Environmental policies have led to production cuts at some smelters, which could affect global growth in primary aluminum production.