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Primary Aluminium Market in surplus in January to April 2020

Metal News - Published on Thu, 25 Jun 2020

Image Source: Aluminium
World Bureau of Metal Statistics announced that the calculated market balance for primary aluminium for January to April 2020 was a surplus of 1098 kt which follows a surplus of 749 kt recorded for the whole of 2019. Demand for primary aluminium for January to April 2020 was 20.67 million tonnes, 199 kt more than in the comparable period in 2019. Demand is measured on an apparent basis and it is likely that the full effects of national lockdowns have not been fully reflected in the trade statistics. Production in January to April 2020 rose by 4.6 per cent. Total reported stocks rose during March and April to close at the end of the period 163 kt above the December 2019 level. Shanghai stocks rose steadily in the first quarter from 185 kt in December 2019 to 528 kt at the end of March. They then fell back to 458 kt in April. LME stocks were 1356 kt which compares with 1473 kt at the end of 2019. 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 April 2020 by 4.6 per cent compared with the first four months of 2019. Chinese output was estimated at 11810 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 3.61 per cent higher than in January to April 2019 and the output of semi-manufactures rose by 5 per cent. China became a net importer of unwrought aluminium in the first third of the year. During January to April 2020 Chinese net exports of aluminium semi manufactures were 1446 kt which compares with 1606 kt for January to April 2019.

Production for January to March in the EU28 was 1.7 per cent lower than the previous year and NAFTA output rose by 4.2 per cent. EU28 demand was 331 kt lower than the comparable 2019 total. Global demand rose by 1 per cent during January to April 2020 compared with the levels recorded one year previously.

In April 2020, primary aluminium production was 5394.1 kt and demand was 5262.5 kt.

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Posted By : Yogender Pancholi on Thu, 25 Jun 2020
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