The primary aluminium production rise in Russia & Eastern Europe for the second consecutive month during January 2024 further underscores the fact that the energy crisis has eased in Europe. Although at a lower rate than in December 2023, the output in January 2024 grew to 348,000 tonnes, marking an increase of 3,000 tonnes or 0.87 per cent month-on-month. In December 2023, primary aluminium production stood at 345,000 tonnes, up by 13,000 tonnes or 3.92 per cent from 332,000 tonnes in November.
The back-to-back growth in Russia and Eastern Europe's monthly primary aluminium production could also be attributed to the recovery of capacity utilisation at UC Rusal's Taishet smelter to about 37 per cent by December 2023.
On a year-on-year basis, primary aluminium output in Russia and Eastern Europe during January 2024 edged a rise of 4,000 tonnes or 1.16 per cent from 344,000 tonnes.
The daily average production in the said month was 11,200 tonnes, slightly up by 100 tonnes month-on-month as well as year-on-year.
