In March, China’s primary aluminium output surged by 7.4% compared to the previous year, reaching 3.59 million metric tons, according to official data from the National Bureau of Statistics (NBS). This increase in production was driven by rising global prices and stronger demand, supported by a stronger economy and expanding manufacturing activity.
The price rally, combined with lower electricity and alumina costs, contributed to an increase in average profit margins for the industry in March, reaching 2,444 yuan per ton. However, production challenges were observed in Yunnan, China’s fourth-largest producing region, where smelters had to curtail output due to lower dry-season hydropower supply, with power shortages expected to persist throughout the year.
The average daily output in March rose to 215,161 tons, reflecting an increase compared to the daily average output for the first two months of the year. Over the first three months of 2024, China’s aluminium production reached 10.69 million tonnes, marking a 6.8% rise from the previous year.
In addition to the growth in aluminium production, the combined output of 10 non-ferrous metals, including copper, lead, zinc, and nickel, reached a record 6.67 million tonnes in March, marking a 7.1% increase from the previous year. The overall non-ferrous metals output for January to March rose by 7.0% to 19.45 million tonnes, as indicated by the NBS data.
China’s robust performance in aluminium and non-ferrous metals production reflects the industry’s resilience and positive economic indicators, contributing to the country’s position as a key player in global metal markets.