LME aluminium down 20% on year

LME Aluminium prices averaged at $ 1588.8 per tonne by the end of September 2015, down 20% from month ending September 2014. International Aluminium Institute (IAI) that measures the production trend in the world has come out with its latest numbers. IAI has mentioned that the trend of Aluminium production again moved to higher side. In August 2015, World Aluminium markets moved to record production numbers.

Data estimates from International Aluminium Institute (IAI) showed that the total primary Aluminium production reached 4.95 million tonnes in September 2015 against 4.92 million tonnes in July 2015. This marks an increase of 0.60% on a monthly basis. The production of Aluminium in August 2014 was 4.48 million. This means that Aluminium production increased by 10.5% on a yearly basis.

China remained the major contributor to the production along with the GCC nations and it did impact the increase in production of World Aluminium on a yearly basis. The total reported production in China was 2.73 million tonnes in August 2015 against 2.72 million tonnes in July 2015, up 0.36%. However on a yearly basis the production of Chinese Aluminium was up 17.1% from August 2014. This indicates that China produces 55.15% share of the world primary production. Production of China in August 2014 was 2.33 million tonnes.

Asian production excluding China increased to 253000 tonnes in August 2015, up 2.4% compared to 198000 tonnes in July 2015. Meanwhile, production increased in GCC region. The total production of GCC was 433000 tonnes in August 2015, up 1.6% compared to 423000 tonnes in the month of August 2014.

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