China accounts for 41% of global Aluminum production in Q1: WBMS
Metal Recycling News | 2012-05-18 08:24:07
Global aluminium production rose by 5% year-on-year in the first quarter of this year on strong Chinese output, as per latest data released by World Bureau of Metal Statistics (WBMS). China produced 4589.1 kilo tons of aluminium in Q1, 41% of global production.
By Paul Ploumis
LONDON (Scrap Monster): Global aluminum production rose by 5% year-on-year in the first quarter of this year on strong Chinese output, as per latest data released by World Bureau of Metal Statistics (WBMS). China produced 4589.1 kilo tons of aluminum in Q1, 41% of global production.
According to WBMS data, China was a net importer of unwrought aluminum during January to March with imports exceeding exports by 33.7 kilo tons. During 2011, Chinese net exports totalled 433 kilo tons.
Aluminum production in the EU27 fell by 6.0% year-on-year and NAFTA output rose by 0.6% year-on-year.
Global aluminum demand rose by 6.1% during the first quarter of the year compared with the levels recorded one year previously. EU27 demand was 13.7% below the comparable period for 2011, WBMS added.
WBMS also stated that, global demand for primary aluminum for last year was 42.81 million tons, 2235 kilo tons more than the equivalent total 2010. Production in January to March 2012 rose by 578 kilo tons from the same period in 2011 and following on from a 2.71 million ton increase over the whole of 2011.
The calculated market surplus for primary aluminum for January to March 2012 was 384 kilo tons which follows a surplus of 1814.7 kilo tons recorded for the whole of 2011.
Total reported stocks fell by 49 kt during March and at the end of the month were 7.22 million tons which equated to just under 62 days demand and compares with 7.0 million tonnes at the end of 2011, they continued.
Total stocks held in the four exchanges in London, Shanghai, USA and Tokyo were 5446 kt at the end of March 2012 which was 260 kt above the December 2011 total. Global producer stocks at the end of March 2012 were 1380 kt which was 24 kt below the previous year’s close. No allowance is made in the consumption calculation for unreported stock changes especially those held in China.
At London Metal Exchange (LME), Aluminum ended flat at $2033 per tonne on Thursday favored by the short term supply tightening situation in the market with the some sequential fall in aluminum inventories from the early May 2012.
The WBMS is the data resource of first resort for anyone involved with the global metals industry. It publishes a wide range of historical data on the production, consumption and external trade of metals.
