SHANGHAI, Mar. 20 (SMM) -- Aluminum Corp. of China Ltd. (CHALCO) released 2011 earnings report on March 17. According to the report, China’s primary aluminum output was about 19.45 million mt in 2011, up 24.3% YoY, while China’s primary aluminum consumption was about 19.50 million mt, up 15.4% YoY, with output growth faster than consumption growth.
In addition, global primary aluminum output was about 45.60 million mt in 2011, up 8.8% YoY, while global primary aluminum consumption was about 45.10 million mt, up 10.0% YoY. Operating rates at global primary aluminum enterprises were 84% as of the end of December 2011, with operating rates in China at 83%.
SMM believes domestic aluminum output and consumption remained relatively balanced in 2011 based on CHALCO’s earnings report. Global primary aluminum supply and demand were also generally balanced despite that consumption was slightly higher than output.