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Aluminum November 21, 2019 03:30:38 PM

WBMS: Primary Aluminum Market Ended in Deficit

Paul Ploumis
ScrapMonster Author
The primary aluminum consumption totalled 5,235.2 kt in September 2019, said WBMS data.

WBMS: Primary Aluminum Market Ended in Deficit

SEATTLE (Scrap Monster): The primary aluminum market ended in a deficit of 530kt during the period from January to September this year, says the latest Metals Balances report published by the World Bureau of Metal Statistics (WBMS). This follows a deficit of 631kt recorded during the entire year 2018.

The overall global production of aluminum dropped marginally by 0.8% in Jan-Sep ’19, as compared with the initial nine-month period in 2018. The Chinese production, which totalled 26.370 million tonnes, accounted for approximately 57% of the total global production. The production by EU-28 countries edged lower by 1.2% over the previous year. On the contrary, the output by NAFTA region surged higher by 5.5% year-on-year.

The monthly primary aluminum production totalled 5,156.8 kt during the month of September this year.

ALSO READ: Rusal Hit by Drastically Declining LME Aluminum Prices

According to WBMS, the total stocks of aluminum at the London Metal Exchange (LME) reported net increase in September, mainly due to increases in Asian warehouses. The total LME stocks at the end of Sep ’19 were 1,762 kt. This compared with the LME stock of 2,429 kt as at end-2018. The combined stocks held by four exchanges in London, Shanghai, USA and Tokyo totaled 1,274 kt at the end of September this year.

The primary aluminum demand during Jan-Sep ’19 was 46.94 million tonnes, lower by 467 kt from the corresponding nine-month period in 2018. The Chinese apparent demand inched higher by approximately 1%, whereas the EU-28 demand stood lower by 170 kt over the previous year.

The primary aluminum consumption totalled 5,235.2 kt in September 2019, said WBMS data.

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