Primary Aluminum Market Ended in Surplus: Metal Balances Report

SEATTLE (Scrap Monster): The January to June 2020 Metals Balances Report published by the World Bureau of Metal Statistics (WBMS) suggests that world aluminum market ended in a surplus of 1,335 kt. This follows a surplus market of 735 kt recorded during the whole of the previous year.

The overall global aluminum production witnessed modest surge by 3.1%, compared with the first half-yearly period in 2019. The output by China totalled 17.868 million tonnes, which accounted for approximately 54% of the global aluminum production during the first six months of the current year. The EU production edged lower by 2.2%. On the contrary, NAFTA output rose by 4.5% over the previous year.

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The LME stocks stood at 1,638.3 kt at the end of June 2020, as compared with 1,473 kt at the end of the previous year. The total reported stocks rose during the six-month period to close at 254 kt above the end-2019 levels. The Shanghai stocks, which rose during the initial months of the year, recorded decline in May and June.

The overall global demand dropped marginally by 0.6% during January to June this year, compared with the previous year.

The primary aluminum production totalled 5,581.5kt in June ‘20, whereas the consumption totalled 5,427.3kt.