LONDON (Scrap Monster): Global aluminium demand advanced sharply by 6% in 2011while its production increased by 6.2%, according to the data released by World Bureau of Metals Statistics (WBMS).
According to WBMS, primary aluminium demand increased by 2389 kt to 42.45 million tons in 2011 and production gained by 2540 kt to 3.91 million tons.
WBMS also reported that, Chinese production was estimated at 17988 kt and this currently accounts for just over 41% of the world production total. China was a net exporter of unwrought aluminium during the year with exports exceeding imports by 433 kt.
In December 2011, primary aluminium production was 3581.8 kt and consumption was 3351.9 kt.
The calculated market surplus for primary aluminium for January to December 2011 was 1205 kt which compares with a surplus of 1053.6 kt recorded for the whole of 2010,WBMS added.
Demand for primary aluminium for last year was 42.45 million tons, 2389 kt more than the equivalent total 2010. Production in January to December 2011 rose by 2540 kt following on from a 3.91 million ton increase over the whole of 2010.
Total reported stocks jumped by 525 kt during December and at the end of the month were 7.10 million tonnes which equated to just over 61 days demand and compares with 6.50 million tonnes at the end of 2010.
Total stocks held in the four exchanges in London, Shanghai, USA and Tokyo were 5187 kt at the end of 2011 which was 471 kt above the December 2010 total. Global producer stocks at the end of December 2011 were 1503 kt which was 207 kt above the previous year’s close. No allowance is made in the consumption calculation for unreported stock changes especially those held in China.
During the whole of the 2010 calendar year, Chinese net exports totalled 390 kt. Production in the EU27 rose by 3.4 per cent and NAFTA output was 5.9 per cent higher. EU27 demand was 4.9 per cent above the 2010 total.