Global primary aluminium output rise 1% y-o-y to at 61.40 mnt in 10MCY’25?

China played a pivotal role in supporting global supply. Its primary aluminium production reached 36.79 mnt during January-October, up 2% y-o-y. Improved smelter profitability encouraged stable operations, with average margins climbing to RMB 5,255/tonne (t) ($746/t) in October, the highest since March 2022. However, China’s primary aluminium sector is approaching its government-imposed production cap of 45 mnt, while new smelter additions face mounting hurdles linked to power contracts, renewable energy availability, and carbon-compliance requirements.