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Primary Aluminium Market in Surplus in January to March 2020 - WBMS

Metal News - Published on Thu, 28 May 2020

Image Source: Aluminium
World Bureau of Metal Statistics in latest report said that the calculated market balance for primary aluminium for January to March 2020 was a surplus of 709 kt which follows a surplus of 761 kt recorded for the whole of 2019. Demand for primary aluminium for January to March 2020 was 15.7 million tonnes, 532 kt more than in the comparable period in 2019. Production in January to March 2020 rose by 5.8 per cent. Total reported stocks fell during January and February 2020 but rose again in March to close at the end of the period 22 kt above the December 2019 level. Total LME stocks also fell in the first two months, mostly in Malaysian and Singapore warehouses but rebounded in March. Total stocks at the end of March 2020 were 2172 kt which compares with 2149 kt at the end of 2019. Total stocks held in the four exchanges in London, Shanghai, USA and Tokyo were 1714 kt at the end of March 2020 which were 39 kt higher than the December 2019 total. No allowance is made in the consumption calculation for large unreported stock changes especially those held in Asia.

Overall, global production rose in January to March 2020 by 5.8 per cent compared with the first three months of 2019. Chinese output was estimated at 8843 kt, based on higher availability of imported bauxite and alumina, and this currently accounts for about 54 per cent of the world production total. Chinese apparent demand was 5.8 per cent higher than in January to March 2019 although output of semi-manufactures fell by 6 per cent. China became a net importer of unwrought aluminium in the first quarter of the year. During January to March 2020 Chinese net exports of aluminium semi manufactures were 1051 kt which compares with 1206 kt for January to March 2019.

Production for January to March in the EU28 was 0.5 per cent lower than the previous year and NAFTA output rose by 4.1 per cent. EU28 demand was 211 kt lower than the comparable 2019 total. Global demand rose by 3.5 per cent during January to March 2020 compared with the levels recorded one year previously.

In March 2020, primary aluminium production was 5540.9 kt and demand was 5242.7 kt.

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Posted By : Yogender Pancholi on Thu, 28 May 2020
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