Global Aluminum deficit widens to 806,000 tons


NEW YORK (Scrap Register): Global aluminum deficit widened to 806,000 tons during the first nine months of the year when matched with the deficit of 550,000 reported for the entire year 2015, according to World Bureau of Metal Statistics.

WBMS indicates that global primary aluminum market has recorded a marginal deficit during the initial nine months of the year. The production of primary aluminum has dropped by 560,000 tons during the nine-month period from January to September this year. The total reported stock of metal declined by 115,000 tons during the month of September this year.

The stocks at the end of the initial nine-month period stood at 2,699 kt, which is sufficient to meet 17 days demand. It must be noted that the stock levels at the end of 2015 had stood at 3,787 kt. The combined stocks held in London, Shanghai, USA and Tokyo exchanges totaled 2,252.0 kt at the end of September, down by 980 kt when matched with end-2015 levels.

Global production fell modestly by 1.30% during the period from January to September in 2016. China, with estimated production of 23,439 kt, accounted for over 55% of the world production.

Production in the EU-28 region dropped marginally by 0.5% and the output by NAFTA region fell by 9.6% year-on-year. The primary aluminum production for the month of September alone was 4,880.1 kt, whereas the consumption totaled 4,900.10 kt.

The Chinese net exports of aluminum semis totaled 2,806 kt during the first nine months of the year, when compared with 2,819 kt during Jan-Sep ’15.

The WBMS report also states that the global aluminum demand reduced by 238,000 tons during January to September this year to total 43.48 million tons, when compared with the corresponding period last year. The Chinese apparent demand was modestly lower by 1.5% when compared with 2015. However, EU-28 demand increased during January to September this year by 270 kt when compared with the previous year.

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