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Aluminum August 17, 2017 01:30:53 PM

WBMS: Primary Aluminum Market Records Huge Deficit in H1 2017

Paul Ploumis
ScrapMonster Author
Global production rose considerably by nearly 6% during the period from January to June in 2017.

WBMS: Primary Aluminum Market Records Huge Deficit in H1 2017

SPOKANE (Scrap Monster): The World Bureau of Metal Statistics (WBMS) has published the Metals Balances Report for the first half-yearly period in 2017. The global primary Aluminum market recorded deficit during the six-month period from January to June this year The WBMS Metals Balances Report released yesterday indicates that global primary aluminum market deficit has further expanded during the month of June this year.

According to the report, world primary aluminum market recorded deficit of 1,074 kt during the first half of the current year. The deficit has further widened from 785 kt reported during the previous month. It must be noted that the global aluminum market had recorded a deficit of 1,097 kt during the entire year 2016.

The production of primary aluminum has surged higher by 1.692 million tonnes during the first six months of the current year. The total reported stock of metal declined further by 314,000 tonnes during the month of June alone. The stocks at the end of the half-yearly period in 2017 stood at 2,033 kt, which is sufficient enough to meet 13 days demand. It must be noted that the stock levels at the end of 2016 had stood at 2,761 kt. The combined stocks held in London, Shanghai, USA and Tokyo exchanges totaled 1,879 kt at the end of June, significantly lower by 445 kt when matched with the 2016 closing levels.

Global production rose considerably by nearly 6% during the period from January to June in 2017. China continued to be the leading aluminum producer. The aluminum production by China was estimated at 16,839 kt during this period. The country accounted for more than 56% of the global aluminum production during Jan-May ’17. The production by the EU region reported marginal decline by 0.5%, whereas the output from NAFTA region dropped by 3.3% from the levels recorded one year before. The primary aluminum output during the month of May alone totaled 5,115.3 kt. Also, the monthly consumption totaled 5,322.1 kt in June this year.

The net exports of Chinese aluminum semi manufacturers totaled 1,955 kt during the first six months of the year, rising sharply by more than 6% over the previous year. The exports had totaled 1,841 kt during January to May last year.

The WBMS report also states that the global aluminum demand increased by 2.008 million tons during January to June in 2017 to total 30.80 million tonnes, when compared with the corresponding six-month period in 2016. The Chinese apparent demand was modestly higher by 10.2% when compared with 2016. Also, EU-28 demand stood higher by 143 kt during January to June this year when matched with the comparable period a year before.

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