Korea’s Major Aluminum Refineries See Mixed Results in Domestic and Export Sales

In March, Korea's three primary aluminum flat product refineries—Novelis Korea, Choil Aluminum, and Daeho Al—reported a slight increase in their combined sales volume, rising 0.9 percent year-on-year to 78,259 tons from 77,564 tons. This marginal growth reflects varying performances across the companies in both domestic and international markets.

Domestically, Novelis Korea and Choil Aluminum experienced increases in sales volumes, while Daeho Al saw a decline. Specifically, the total domestic shipment for the three companies surged by 10.8 percent to 32,624 tons. Novelis Korea led this growth with a 13.8 percent increase in domestic shipments, totaling 19,947 tons, marking the highest in two years—likely driven by heightened demand for high-quality aluminum, spurred by new regulations such as the IRA in the US and CRMA in Europe. Choil Aluminum also posted a 12.3 percent rise in domestic sales, reaching 10,559 tons. In contrast, Daeho Al's domestic sales fell by 15.8 percent to 2,118 tons.

On the international front, the export performance was less robust, with total exports across the three companies decreasing by 5.2 percent to 45,635 tons from 48,123 tons in the same month last year. Novelis Korea and Daeho Al both reported declines in exports by 4.9 percent and 19.8 percent, respectively. Choil Aluminum's exports remained steady, showing no significant change from the previous year.