SEATTLE (Scrap Monster): The January to October 2021 Metals Balances Report published by the World Bureau of Metal Statistics (WBMS) suggests that primary aluminium market ended in notable deficit of 1,366 kt. This follows a surplus of 1,271 kt recorded for the whole of the previous year.
The global aluminum production during the initial ten-month period of the current year rose by nearly 4.1% upon comparison with the corresponding period a year before. The Chinese output, at 32,368 kt, accounted for almost 58% of the global aluminium production. The Chinese net exports of aluminum semi manufactures rose 14% to 3,976 kt during January to October this year, in comparison with the corresponding period a year before.
The demand stood higher by 4,419 kt from the comparable period in 2020 to around 57.61 million tonnes. The Chinese apparent demand surged higher by 6.3% than in Jan-Oct ‘20. The Japanese demand was up by 265 kt, while the U.S. demand too was up by 112 kt.
The total reported stocks of the metal declined in October 2021 to close the period at 1,359 kt below the end-2020 levels. The Shanghai stocks increased during the month of October this year and ended the period 62 kt above the end-2020 levels. Meantime, the LME stocks closed at 1,484.5 kt at the end of October 2021, compared with 2,917.0 kt at the end of the previous year.
In October this year, primary aluminium production totalled 5,635.2 kt, whereas the demand stood at 5,722.7 kt.