Primary Aluminum Market Ended in Surplus

SEATTLE (Scrap Monster): The January to November 2019 Metals Balances Report published by the World Bureau of Metal Statistics (WBMS) suggests that world aluminum market ended in a surplus of 445 kt. This follows a surplus market of 116 kt recorded during the whole of 2018.

The overall global aluminum production witnessed marginal decline by 0.4%, compared with the first eleven months of 2018. The output by China totalled 32.129 million tonnes, accounting for approximately 56% of the global aluminum production during the eleven-month period. The EU production edged higher by 0.6%. Also, NAFTA output rose by 4.7% over the previous year.

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The LME stocks rose marginally in November last year, with major increases reported in Asian warehouses. The total reported stocks as at end-Nov ‘19 were 2,021 kt, compared with 2,429kt at the end of 2018. The combined stocks held by four main exchanges-London, Shanghai, USA and Tokyo registered decline by 412 kt from Dec ’18 closing level to total 1,540 kt at the end of November 2019.

The primary aluminum production totalled 5,303kt in Nov ‘19, whereas the consumption totalled 5,131.1kt.