What mattered was the balance. Refineries kept running, smelters stayed within limits, and extra material was directed to where it was needed - either into domestic supply or into export markets. Alumina output rose 8.2 per cent from 2024, aluminium increased by around 2 per cent, and yet oversupply never really built up. Instead of chasing volume for its own sake, China used alumina production to keep the wider aluminium system steady, supported and within policy boundaries.
According to International Aluminium Association, metallurgical-grade alumina in January stood at 7.30 million tonnes. February slipped to 6.74 million tonnes, before March recovered to 7.32million tonnes, rising 8.6 per cent. April weakened to 6.87 million tonnes. May climbed to 7.04 million tonnes, followed by 7.12 million tonnes in June. July picked up to 7.58 million tonnes. August pushed slightly higher to 7.62 million tonnes. September eased back to 7.55 million tonnes, October rose to 7.75 million tonnes and November settled at 7.6 million tonnes. The year wrapped up with December production estimated at 7.7 million tonnes.
Daily production told much the same story. It began at 235.7 thousand tonnes in January, softened into April and then gathered pace. From 227.1 thousand tonnes in May, it moved past 244 thousand tonnes in July, crossed 250 thousand tonnes by September and reached 253.3 thousand tonnes in November.
