China’s primary aluminium output in the first two months of 2024 climbed 5.5% from the same period a year earlier, official data showed on Monday, as better profits underpinned production.
The world’s biggest aluminium producer churned out 7.1 million metric tons of primary aluminium in January and February, according to data from the National Bureau of Statistics (NBS).
China combines output data for January and February into one release to smooth out the impact of the Lunar New Year holidays, which fall in either of these months each year.
The yearly growth in the metal, which is widely used in auto, construction and packaging sectors, came as profit margins increased.
Smelters enjoyed an average profit of 1,964 yuan (USD 272.90)per ton in February, 50% higher than the same period a year earlier, according to research house Antaike.
However, Antaike also noted profits had slid from previous months because of higher prices of alumina, one of the key raw material for smelters.
Production of ten nonferrous metals – including copper, aluminium, lead, zinc and nickel – rose 5.7 % to 12.77 million tonnes from a year earlier. The other non-ferrous metals are tin, antimony, mercury, magnesium and titanium.
