World Primary Aluminum Output Hit a Historic High in October
Scrap Metal News | 2024-12-03 13:53:15
The rise in production is mainly attributed to the gradual recovery in global economy as well as the expanding market demand for aluminum worldwide.
By Paul Ploumis
SEATTLE (Scrap Monster): According to the most recent data released by the International Aluminum Institute (IAI), primary aluminum output worldwide had a significant recovery and reached a record high in October of this year. The world's principal aluminum-producing regions reported higher output throughout the month.
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In October 2024, the average daily primary aluminum output reached a new high of 200,700 tons, according to IAI data. Compared to the daily average production of 200,200 tons in September 2024 and 198,200 tons in the same month the previous year, this is a huge increase. The increased output shows that primary aluminum manufacturing capacity is continuously increasing worldwide.
Primary aluminum output for the first ten months of this year was 60.472 million tons, which is slightly more than the 58.8 million tons produced during the same ten-month period in 2023. The global economy's slow but steady recovery and the growing demand for aluminum on the global market are the primary causes of the output increase.
According to IAI, the production recovery will support the growth of associated industries in addition to helping to fulfill the growing market demand for aluminum.
