Aluminium prices fell 0.08% to ₹241.7 on global production data. According to the International Aluminium Institute (IAI), primary aluminium production rose 3% year-on-year to 6.04 million tonnes in November. China, the world’s largest aluminium producer, increased its production by 3.6% to 3.71 million metric tonnes. Similarly, the 3% increase from October and 3.6% increase in November have continued to increase, reaching 40.22 million tonnes, up 4.6% from the previous year.
In the first 10 months of 2024, there was an overall deficit of 332,600 tonnes due to 59.65 million tonnes of refined aluminium production and 59.99 million tonnes of consumption. China’s exports of unwrought aluminum and aluminum products rose 17% year-on-year in the first 10 months to about 5.5 million tons, with exports in October alone up 31% year-on-year to 577,000 tons, indicating strong demand abroad despite increased domestic production.
