Aluminum prices rose 0.08% to ₹252.75, following comments from the US President that investors were optimistic about a possible trade deal with China, the world’s top user of the metal. The sentiment was further bolstered by developments in the European Union, which is set to ban primary aluminum imports from Russia as part of its planned sanctions package. The decision is expected to reinforce the phasing out of Russian aluminum imports as European businesses have largely refrained from buying Russian goods since the invasion of Ukraine in 2022.
Global primary aluminum production rose 3% year-on-year to 6.236 million metric tons in December, according to figures from the International Aluminum Institute (IAI). In December, China increased its aluminum production by 4.2% year-on-year to 3.77 million metric tons. As a result, the industry’s average profit fell for the first time in three years. In 2024, China’s total production was 44.01 million metric tons, up 4.6% from the previous year.