According to the International Aluminium Institute, primary aluminium production in Russia and Eastern Europe fell to 310,000 tonnes in February 2023, down by 9.88% from the previous month's output of 344,000 tonnes. However, the average daily production rate was sustained at 11,100 tonnes. Year-on-year, the output fell by 4,000 tonnes, or 1.27%, from 314,000 tonnes. In the first two months of 2023, the production reached 654,000 tonnes, down by 1.36% from the corresponding period of the previous year.
In Western and Central Europe, primary aluminium production declined by 9.13% or 21,000 tonnes from January to February 2023, with the production totalling 209,000 tonnes in February. In the same period, the daily average production stood at 7,500 tonnes, which is a slight improvement from January 2023's average of 7,400 tonnes. However, the year-on-year production of primary aluminium in Western and Central Europe fell to 439,000 tonnes, a drop of 10.77% from 492,000 tonnes in 2022.
Despite the monthly decline in primary aluminium production in Russia and Eastern Europe and Western and Central Europe, the average daily production was still sustained at a relatively stable rate. The reason for the decline was not specified in the report, but the pandemic, energy prices, and geopolitical tensions have had a significant impact on the global aluminium market. The drop in production levels could lead to an increase in prices as demand outstrips supply, putting pressure on downstream industries. It remains to be seen whether these trends will continue in the coming months.