International Aluminium Institute released data on global aluminium production

The International Aluminium Institute on Friday released data on global aluminium production in December and for the full year 2022. Production rose 2% year-on-year in December to 5.86 million tonnes, just below the record level in August. Full-year aluminium production also rose 2% to a record 68.42 million tonnes.

This was primarily due to China, where production increased by 4% to 40.39 million tonnes, more than compensating for the 12.5% decline in Europe. The sharp drop in production in Europe as a result of sharply higher energy costs meant that aluminium production outside China fell by 0.8% last year. Europe's share of global production fell from around 5% to just over 4%, while China's share was just under 60%.

Source: Commerzbank Research, Photo: Fotolia