World Primary Aluminum Market Ended in Deficit Till August

SEATTLE (Scrap Monster): The January to August 2022 Metals Balances Report published by the World Bureau of Metal Statistics (WBMS) suggests that primary aluminium market ended in deficit of 797 kt. This follows a deficit of 1,603 kt recorded for the whole of the previous year.

The global aluminum production during the initial eight-month period of the current year declined by nearly 12kt upon comparison with the year before. The Chinese output, at 26,472 kt, accounted for almost 59% of the global aluminium production. The Chinese net exports of aluminum semi manufactures rose significantly by 26% during Jan-August ‘22, in comparison with the corresponding period a year before.

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 The demand stood lower by 349 kt from the comparable eight-month period in 2021 at around 45.99 million tonnes. The Chinese apparent demand inched lower by 0.9% than in Jan-Aug ‘21. The Japanese demand was up by 46 kt, while the U.S. demand too rose modestly by 490 kt.

The total reported stocks of the metal declined during the eight-month period to close at 598 kt below the end-2021 levels. The Shanghai stocks surged higher during the month of August this year and ended the period 119 kt below the end-2021 levels. Meantime, the LME stocks closed at 633 kt at the end of August, compared with 1,213.4 kt at the end of 2021.

In August 2022, primary aluminium production totalled 5,831.4 kt, whereas the demand stood at 5,813.6 kt.