Primary Aluminum Market Ended in Surplus Till July 2020

From January to July in 2020, the overall aluminum production surged higher by 3.6% compared with the corresponding seven months of 2019.

SEATTLE (Scrap Monster): The world primary aluminum market recorded modest surplus during the initial seven-month period of 2020, says the latest Metals Balances Report published by the World Bureau of Metal Statistics (WBMS). The market witnessed a surplus of 1,148 kt during this period. The market had posted deficit of 514 kt in the whole year 2019.

The total reported aluminum stocks as on end-July rose to close at levels 244 kt above the December 2019 level. The total LME stocks surged higher to 1,632 kt from 1,473 kt at the end of the previous year. The Shanghai stocks rose during the initial months of the year, but fell by 300 kt in the second quarter.

From January to July in 2020, the overall aluminum production surged higher by 3.6% compared with the corresponding seven months of 2019. The Chinese production totalled 21.113 million t, accounting for nearly 55% of the global output. The production by the EU-28 and NAFTA regions edged higher by 0.4% and 4.3% respectively, compared with the previous year

The primary aluminum output during the month totalled 5,739.8 kt, whereas the monthly consumption totalled 5,660.6 kt during the month.

According to WBMS, the global aluminum demand increased marginally by 0.6% during Jan-July ’20. The Chinese apparent demand was modestly higher by 7.5% year-on-year. Also, EU-28 demand stood lower by 818 kt from the comparable period in 2019.

YOU MAY ALSO BE INETERESTED IN:

London Metal Exchange Declares New Aluminum UBC Contract

Aftermaths of Trump's Reinstation of Tariffs on Canadian Aluminum Imports

• Panama President Sees No Environmental Threat from Copper at Closed First Quantum Mine
• Consumers Sue Exxon, Dow, Others over Plastic Recycling Claims
• VLS Environmental Solutions Announces Acquisition of Clearfield MMG in Virginia
• December 19, 2024: Scrap Gold and Platinum Prices Dipped, Silver Up on the Index