By Paul Ploumis (ScrapMonster Author)
December 17, 2015 03:20:57 AM
SEATTLE (Scrap Monster): The latest report published by the World Bureau of Metal Statistics (WBMS) indicates that global primary aluminum market has recorded a deficit during the initial ten months of the year. As per the report, the market reported a deficit of 279,000 tons when matched with the deficit of 589,000 reported during entire year 2014.
The production of primary aluminum was up by 7.3% during the ten-month period from January to October this year. The global production rose by 3,260 kt during this period, when compared with a year ago. The total reported stock of metal has declined further by 184,000 tonnes during the month of October. The stocks at the end of the initial ten-month period stood at 3,961 kt, which is sufficient to meet 27 days demand. It must be noted that the stock levels at the end of 2014 had stood at 5,020 kt. The combined stocks held in London, Shanghai, USA and Tokyo exchanges totaled 3,366 kt at the end of October, down by 1,319 kt when matched with end-2014 levels.
Global production increased by 7.3% during the period from January to October in 2015. China, with estimated production of 26,456 kt, accounted for more than 55% of the world production. Production in the EU-28 region dropped by 2.2% and the output by NAFTA region fell by 2.4% year-on-year. The primary aluminum production for the month of October alone was 4,807.40 kt, whereas the consumption totaled 4,852.40 kt.
The Chinese net exports of aluminum semis totaled 3,071 kt during the first ten months of the year.
The WBMS report also states that the global aluminum demand rose by 6.60% during January to October this year to total 47.94 million tonnes, when compared with the corresponding period last year. The Chinese apparent demand went higher by almost 15% when compared with 2014. On the other hand, EU-28 demand dropped slightly during January to October this year by 492 kt when compared with the previous year.