India: Aluminium production falls over 5% m-o-m in Jun'22

India's aluminium production fell 5.71% to 331,000 tonnes (t) in June 2022 as against 346,000 t in May 2022, as per data collated by SteelMint. However, the volumes remained almost stable as against June 2021.

The key consumer of aluminium was electrical and electronics segment followed by automotive and transportation, building, construction, packaging, consumer durables, industries and defence.

Vedanta leading producer

Vedanta Ltd was the largest domestic aluminium producer in June with total production at 142,000 t, followed by Hindalco at 106,000 t. National Aluminium Company (NALCO), a central government owned entity, produced 37, 878 t while Bharat Aluminium Company (BALCO) churned out 46,341 t in the month.

Production in H1CY22

During the first half of CY22 (January-June 2022), India produced 2.04 mnt of aluminium, an increase of 5.15% as compared to 1.94 mnt in the same period last year, as per data maintained with SteelMint.

Monthly LME price trend

The average London Metal Exchange (LME) aluminium price for June 2022 was $2,570/t as
against $2,440/t in June 2021, registering an increase of 5.1%.

On a monthly basis, LME aluminium 3-month prices fell by $278/t to $2,570/t in June which were at $2,857/t in the previous month.

Global production down m-o-m in June

World's aluminium production stood at 5.65 mnt in June, down by 2.92% from 5.82 mnt in May, as per the International Aluminium Institute (IAI).