Aluminum Market In 1.1M Ton Surplus Jan-Jul -WBMS

LONDON, Sept. 17 -- The global aluminum market was in a 1.106 million metric ton surplus in the first seven months of the year, the World Bureau of Metal Statistics said Wednesday.

    That compares with a 527,000 tons surplus during the same period in 2008.

    In the 2009 period, demand for primary aluminum was 19.46 million tons, 3.070 million tons or 13.6% lower than the 2008 period. Meanwhile, production fell by 2.492 million tons to 20.57 million tons.

    Overall, global production in the first seven months of the year fell by 11% on the year, WBMS said. Chinese output fell by 1.172 million tons and currently accounts for over 32% of the world production total.

    China remained a net importer of unwrought aluminum with imports exceeding exports by 1.186 million tons during the period. During the whole of the 2008 calendar year, Chinese net exports totaled 581,000 tons, WBMS said.

    Production in the EU27 fell by 366,000 tons and demand fell 39% below the January to July 2008 period.

    In July alone, primary aluminum production was 3.064 million tons and consumption was 3.040 million tons.

    (Source: Dow Jones)