Alexander Chudaev/Adobe Stock
Global aluminum production by volume fell in June compared the previous month but was about flat on a daily production basis.
Production totaled 5.27 million tons in June, down from the 5.45 million tons produced in May, according to reporting this week by the International Aluminum Institute.
On a daily average basis, June production was 175,800 tons per day (compared with 175,700 tons in May).
No. 1 producer China churned out 3.01 million tons in June, down from 3.10 million tons in May. The June figure was up slightly from the 2.97 million tons produced in June 2019.
Production among the Gulf Cooperation Council (GCC) countries totaled 479,000 tons, down from 496,000 tons the previous month but up from 458,000 tons in June 2019.
Asian production ex-China totaled 337,000 tons, down from 342,000 in May and 360,000 tons in June 2019.
Production in eastern and central Europe totaled 340,000 tons, down from 351,000 tons the previous month and 343,000 tons in June 2019.
Aluminum price rises
As we’ve reported here before, aluminum prices have been on the rise over the last two months despite ample global supply.
Per MetalMiner Insights data, the LME three-month primary aluminum price fell to a 2020 low of $1,460/mt in early April.
Since then, the price has recovered, albeit not as much as the copper price.
The LME three-month aluminum price closed Monday at $1,658/mt, marking a 3.69% increase over the previous month.
As MetalMiner’s Maria Rosa Gobitz explained last week, SHFE aluminum prices have also been recovering.
“The SHFE prices recovered 30% over the last three months,” Gobitz wrote.
“Meanwhile, LME prices are recovering but not as quickly.
“In the past three months, the prices went up by 16% from its April low. Last Friday, the price reached $1,694/mt, which is still 8.45% below the 2020 peak of $1,835/mt (reached Jan. 6).”