The January to August 2021 Metals Balances Report published by the World Bureau of Metal Statistics (WBMS) suggests that primary aluminium market ended in modest deficit of 1,025 kt. This follows a surplus of 1,367 kt recorded for the whole of year 2020.
The global aluminum production during the initial eight-month period of the current year rose by nearly 5% upon comparison with the corresponding period a year before. The Chinese output, at 26,076 kt, accounted for almost 58% of the global aluminium production. The Chinese exports of aluminum semi manufactures rose 13% to 3,125 kt during January to August in 2021.
The global demand stood higher by 3,863 kt from the comparable period in 2020 to around 46.20 million tonnes. The Chinese apparent demand surged higher by 7.8% than in Jan-August ‘20. The Japanese demand was up by 183 kt, whereas the U.S. demand fell by 169 kt, WBMS said.
The total reported stocks of the metal declined in August to close the period at 843 kt below the end-2020 levels. The Shanghai stocks fell in August, but ended the period 23.6 kt above the end-2020 levels. Meantime, the LME stocks closed at 2,014.0 kt at the end of August 2021, compared with 2,917.0 kt at the end of the previous year.
In August this year, primary aluminium production totalled 5,611.2 kt, whereas the demand stood at 5,666.1 kt.
Source By – ScrapMonster