Morning Bites (part 1)

📈Global primary aluminium production rose 3% YoY in January, decelerating from the 6% YoY growth in December, the International Aluminium Institute (IAI) reports. Last month, Chinese aluminium output rose 6% YoY (+11% vs. the 2019 level), while ex-China production remained flat YoY (+2% vs. 2019)

🇨🇳China's Yunnan is to decrease its aluminium production further, Reuters reports. Over the weekend, the province was ordered to cut an additional 415kt of aluminium smelting capacity (0.6% of global supply), following the dry season. Meanwhile, according to Shanghai Metals Market (SMM), domestic power rationing might reduce Yunnan's Al output to 3.4mnt in February (vs. the ~4.0mnt level held since September 2022). Overall, the news is likely to have a slightly positive effect on the metal’s prices, especially amid low inventory levels

#aluminium
https://metals-wire.com/sector/Aluminium