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Aluminum September 19, 2019 03:30:57 PM

WBMS Metal Balances Signal Aluminum Market Deficit

Paul Ploumis
ScrapMonster Author
Global production rose by 2.2% during the period from January to July in 2019.
WBMS Metal Balances Signal Aluminum Market Deficit

SEATTLE (Scrap Monster): The World Bureau of Metal Statistics (WBMS) announced publication of the Metals Balances Report for the initial seven-month period of the current year. The global primary aluminum market recorded deficit during Jan-July ’19. The report released yesterday indicates that world primary aluminum market recorded deficit of 651 kt until July this year. The market deficit had totalled 855 kt in the whole of 2018.

The production of primary aluminum has surged higher by 783 kt tonnes during this period. The total reported stock of metal rose slightly in July to close at 530 kt below the December 2018 level. The combined stocks held in London, Shanghai, USA and Tokyo exchanges totalled 1.430 million t at the end of July, significantly lower by 521 kt when matched with the 2018 closing levels.

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Global production rose by 2.2% during the period from January to July in 2019. China continued to be the leading aluminum producer. The aluminum production by China was estimated at 20.415 million tonnes. The country accounted for almost 57% of the total global aluminum production. The production by the EU region dropped from the year before. On the other hand, NAFTA output rose by 6.7%.

The WBMS report also states that the global aluminum demand increased by 655 kt during January to July in 2019 to total 36.5 million tonnes.

The monthly primary aluminium output totalled 5255.8 kt in July ’19, whereas the consumption totalled 5077.6 kt.