WBMS: Primary Aluminum Metal Balance Ended in Deficit

SEATTLE (Scrap Monster): The January to July 2022 Metals Balances Report published by the World Bureau of Metal Statistics (WBMS) suggests that primary aluminium market ended in deficit of 916 kt. This follows a deficit of 1,558 kt recorded for the whole of the previous year.

The global aluminum production during the initial seven-month period of the current year dipped marginally by nearly 0.7% upon comparison with the same period a year before. The Chinese output, at 22,945 kt, accounted for approximately 58% of the global aluminium production. The Chinese net exports of aluminum semi manufactures rose by 29% to 3,564 kt during Jan-July ‘22, in comparison with the corresponding period a year before.

The demand stood lower by 215 kt from the comparable seven-month period in 2021 at around 40.192 million tonnes. The Chinese apparent demand inched lower by 2.0% than in Jan-July ‘21. The Japanese demand was up by 61 kt, while the U.S. demand too rose significantly by 539 kt.

The total reported stocks of the metal declined in the initial seven-month period of the year to close at 737 kt below the end-2021 levels. The Shanghai stocks declined during the month of July this year and ended the period 138 kt below the end-2021 levels. Meantime, the LME stocks closed at 621 kt at the end of July 2022, compared with 1,213.4 kt at the end of the previous year.

In July this year, primary aluminium production totalled 5,572.0 kt, whereas the demand stood at 5,839.9 kt.

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