WBMS: Primary Aluminum Market Ended in Deficit During H1 2022

SEATTLE (Scrap Monster): The January to June 2022 Metals Balances Report published by the World Bureau of Metal Statistics (WBMS) suggests that primary aluminium market ended in deficit of 895 kt. This follows a deficit of 1,844 kt recorded for the whole of the previous year.

The global aluminum production during the initial six-month period of the current year dipped marginally by nearly 0.40% upon comparison with the year before. The Chinese output, at 19,484 kt, accounted for almost 58% of the global aluminium production. The Chinese net exports of aluminum semi manufactures rose by 28% during Jan-June ‘22, in comparison with the corresponding period a year before.

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The demand stood lower by 163 kt from the comparable half-yearly period in 2021 at around 34.48 million tonnes. The Chinese apparent demand inched lower by 2.0% than in Jan-June ‘21. The Japanese demand was up by 49 kt, while the U.S. demand too rose modestly by 324 kt.

The total reported stocks of the metal declined during the six-month period to close at 570 kt below the end-2021 levels. The Shanghai stocks declined during the month of June this year and ended the period 84 kt below the end-2021 levels. Meantime, the LME stocks closed at 658 kt at the end of June, compared with 1,213.4 kt at the end of 2021.

In June 2022, primary aluminium production totalled 5,646.1 kt, whereas the demand stood at 6,011.5 kt.