Aluminum Prices Rise 15.7% in 2024 in the fist half
(Business in Cameroon) – The global price of aluminum rose by 15.7% between the first and second quarters of 2024. This increase, reported by the Bank of Central African States (BEAC) in its commodity price report for Q2 2024, is a significant jump from the 2.7% rise recorded between the fourth quarter of 2023 and the first quarter of 2024.
The surge in global prices has likely boosted export revenues for Cameroon’s aluminum company (Alucam), the sole aluminum producer in the Cemac zone. The company produces 70,000 tons of aluminum annually, most of which is exported.
Some aluminum ingots from Alucam’s plant in Edéa, located in the Littoral region, are sold locally. In 2023, for example, the National Institute of Statistics (INS) reported that 37.3% of Alucam’s production was sold on the local market.
In addition to its subsidiary Socatral, which produces aluminum sheets, and other local manufacturers, Alucam supplies raw materials to local transformers. This includes the Chinese company Everwell Cameroon, which makes electrical cables, and Phoenix Aluminium Cameroon, which produces aluminum profiles.
