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Primary Aluminium Market in Surplus in 2019 - WBMS

Metal News - Published on Mon, 24 Feb 2020

Image Source: ega.ae
World Bureau of Metal Statistics latest report said that the calculated market balance for primary aluminium for January to December 2019 was a surplus of 685 kt which follows a surplus of 118 kt recorded for the whole of 2018. Demand for primary aluminium for January to December 2019 was 62.27 million tonnes, 1032 kt less than in the comparable period in 2018. Production in January to December 2019 fell by 465 kt compared with the same period in 2018. Producer stock data is no longer published and total reported stocks fell slightly during December and closed at the end of the month 280 kt below the December 2018 level. Total LME stocks rose during December, mostly in Asian warehouses, Total stocks at the end of December 2019 were 2149 kt which compares with 2429 kt at the end of 2018. Total stocks held in the four exchanges in London, Shanghai, USA and Tokyo were 1675 kt at the end of December 2019 which were 280 kt lower than the December 2018 total. No allowance is made in the consumption calculation for large unreported stock changes especially those held in Asia.

Overall, global production fell in January to December 2019 by 0.7 per cent compared with the whole of 2018. Chinese output was estimated at 35044 kt and this currently accounts for about 56 per cent of the world production total. Chinese apparent demand was 0.8 per cent lower than in January to December 2018. Chinese net exports of unwrought aluminium were 287 kt during the whole of 2019 which compares with 363 kt in the comparable period in 2018. January to December 2019 Chinese net exports of aluminium semi manufactures were 4807 kt which compares with 4691 kt for the 2018 calendar year.

Production in the EU28 was 0.7 per cent higher than the previous year and NAFTA output rose by 4.2 per cent. EU28 demand was 315 kt lower than the comparable 2018 total. Global demand fell by 1.6 per cent during January to December 2019 compared with the levels recorded one year previously.

In December 2019, primary aluminium production was 5433.2 kt and consumption was 5320.7 kt.

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Posted By : Rabi Wangkhem on Mon, 24 Feb 2020
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