WBMS: Primary Aluminum Market Ended in Modest Surplus

SEATTLE (Scrap Monster): The January to February 2022 Metals Balances Report published by the World Bureau of Metal Statistics (WBMS) suggests that primary aluminium market ended in surplus of 342 kt. This follows a deficit of 1,677 kt recorded for the whole of the previous year.

The global aluminum production during the initial two-month period of the current year fell by nearly 0.4% upon comparison with the year before. The Chinese output, at 6,327 kt, accounted for almost 57% of the global aluminium production. The Chinese net exports of aluminum semi manufactures rose by 21% to 899 kt during Jan-Feb ‘22, in comparison with the corresponding period a year before.

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The demand stood lower by 440 kt from the comparable two-month period in 2021 at around 10.69 million tonnes. The Chinese apparent demand inched lower by 7.4% than in Jan-Feb ‘21. The Japanese demand was up by 19 kt, while the U.S. demand too rose marginally by 4 kt.

The total reported stocks of the metal declined in January and rose fractionally in February to close at 173 kt below the end-2021 levels. The Shanghai stocks increased during the month of February this year and ended the period 12.3 kt above the end-2021 levels. Meantime, the LME stocks closed at 1,032.2 kt at the end of February, compared with 1,213.4 kt at the end of 2021.

In February 2022, primary aluminium production totalled 5,434.4 kt, whereas the demand stood at 5,178.5 kt.