Primary Aluminum Market Posted Surplus in Q1

The global aluminum production during the initial three-month period of the current year fell by nearly 0.4% upon comparison with the year before.

SEATTLE (Scrap Monster): The January to March 2022 Metals Balances Report published by the World Bureau of Metal Statistics (WBMS) suggests that primary aluminium market ended in surplus of 474 kt. This follows a deficit of 1,676 kt recorded for the whole of the previous year.

The global aluminum production during the initial three-month period of the current year fell by nearly 0.4% upon comparison with the year before. The Chinese output, at 9,633 kt, accounted for almost 58% of the global aluminium production. The Chinese net exports of aluminum semi manufactures rose by 22% to 1,390 kt during the initial quarter of 2022, in comparison with the corresponding quarter a year before.

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The demand stood lower by 727 kt from the comparable three-month period in 2021 at around 16.23 million tonnes. The Chinese apparent demand inched lower by 6.7% than in Jan-Mar ‘21. The Japanese demand was up by 70 kt, while the U.S. demand too rose by 42 kt.

The total reported stocks of the metal closed at 404 kt below the end-2021 levels. The Shanghai stocks declined during the month of March this year and ended the period 14.6 kt below the end-2021 levels. Meantime, the LME stocks closed at 833 kt at the end of Q1 this year, compared with 1,213.4 kt at the end of 2021.

In March 2022, primary aluminium production totalled 5,697.5 kt, whereas the demand stood at 5,542.5 kt.

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