Australia is on course for a record-breaking year in aluminium exports, according to trade data released by the Australian Bureau of Statistics (ABS) following a record $1.5 billion of sales in November.
The November figure eclipsed the previous record of $1.2 billion in October 2024 that surpassed the October 2018 figure of $1.1 billion six years earlier, which had been the highest mark achieved since the beginning of the time series in 1988.
Aluminium leaving the country’s ports was Australia’s fourth largest category of raw material export after iron ore, coal and natural gas.
The surge in aluminium exports has been primarily driven by rising demand from Asia with uses in building, electrical vehicle manufacturing and of course as a key material in industrial production across housing and business sectors.
Aluminium prices have played a significant role in this export boom, currently trading around US$2,500 ($3,957) per tonne, according to data from the St Louis Federal Reserve Economic Data database — which notes the five-year average price is US$2,300.
Source: ABS, St Louis FRED
The Australian Government this week revealed it is investing $2 billion in the nation’s aluminium industry, as part of its Future Made in Australia initiative. Under the investment, aluminium smelters switching to renewable energy by 2036 will receive federal funds for clean and reliable aluminium made in Australia over a 10-year period.
Write to Dan Petrie at Mining.com.au
Images: Mining.com.au
