IAI: North American aluminum production rose for the ninth month in a row

Published: Oct 22, 2020 09:21
Source: Mandarin Finance and Economics

SMM: raw aluminum production from North American refineries totaled 317000 tons in September, up 2.3 percent from a year earlier, according to data released by the International Aluminium Institute ((IAI)) on Tuesday, the ninth consecutive month of growth over the same period last year.

But September production was the second lowest in the region, close to 314000 tons in February.

From January to September, North American aluminium production rose to 2.98 million tons from 2.86 million tons in the same period in 2019, according to IAI.

, () confirmed in a conference call with investors that Becancour aluminum plant in Quebec recorded year-on-year growth this month and so far this year after an overall increase of 413000 tons per year in the third quarter.

According to a recent report by (Aluminum Association), the American aluminum association, annual production of primary aluminum in the US is expected to be 899900 tonnes for the year to September, down 18.1 per cent from the same period a year earlier.

According to the IAI report, US aluminum production fell to an average of 2459 tons per day in September from an average of 3011 tons per day in September 2019.

According to a separate report by Alcan Association (Aluminum Association of Canada), data by the end of September show that Canada's annual aluminum production is expected to reach 3.13 million tons in 2020, up from 2.84 million tons last year.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn
For more information on how to access our research reports, please contact:service.en@smm.cn
Related News
Fed Governor Milan Pushes for Over 100 Basis Points Cut, Contradicts Barkin on Caution
21 hours ago
Fed Governor Milan Pushes for Over 100 Basis Points Cut, Contradicts Barkin on Caution
Read More
Fed Governor Milan Pushes for Over 100 Basis Points Cut, Contradicts Barkin on Caution
Fed Governor Milan Pushes for Over 100 Basis Points Cut, Contradicts Barkin on Caution
Federal Reserve Governor Milan pointed out that it is necessary for the US Fed to cut interest rates by more than 100 basis points this year. At the same time, he is very much looking forward to the performance of Kevin Warsh as Fed Chairman. However, Richmond Fed President Barkin emphasized that monetary policy must remain cautious until inflation fully pulls back to the target level, thereby ensuring the stability of the labour market.
21 hours ago
Democratic Senators Demand Delay in Fed Nomination Amid Criminal Investigation
21 hours ago
Democratic Senators Demand Delay in Fed Nomination Amid Criminal Investigation
Read More
Democratic Senators Demand Delay in Fed Nomination Amid Criminal Investigation
Democratic Senators Demand Delay in Fed Nomination Amid Criminal Investigation
All 11 Democratic members of the US Senate Banking Committee jointly sent a letter to the committee's chairman, Tim Scott, requesting that all nomination processes for the prospective Fed Chairman, Kevin Warsh, be postponed until the criminal investigation into current Fed Chairman Powell and other board members is concluded. However, Scott stated that Warsh's confirmation was a done deal.
21 hours ago
Fed to Keep Large Banks' Capital Levels Unchanged, Postpones Stress Test Reforms Until 2027
21 hours ago
Fed to Keep Large Banks' Capital Levels Unchanged, Postpones Stress Test Reforms Until 2027
Read More
Fed to Keep Large Banks' Capital Levels Unchanged, Postpones Stress Test Reforms Until 2027
Fed to Keep Large Banks' Capital Levels Unchanged, Postpones Stress Test Reforms Until 2027
The US Fed has announced that it will maintain the capital levels of large banks unchanged during the upcoming stress test cycle (corresponding to the 2026 cycle). At the same time, the US Fed is planning multidimensional reforms to this annual test, aiming to enhance its transparency. The US Fed's Vice Chair for Supervision, Bowman, revealed that adjustments to the stress capital buffer requirements for large banks will be postponed until 2027. This move is intended to provide the US Fed with sufficient time to evaluate potential flaws that may be exposed in its testing models when assessing banks' financial conditions under simulated economic downturn scenarios.
21 hours ago