Global Aluminium production climbs 7.2 percent during Q1 2017
LONDON (Scrap Register): Global Aluminium production climbed during January to March this year by 7.2 per cent compared with the first three months of 2016, according to the latest data released by the World Bureau of Metal Statistics.
Chinese output was estimated at 8201 kilo ton and this currently accounts for just under 56 per cent of the world production total. Chinese apparent demand was 13 per cent higher than 2016.
Chinese net exports were 59 kt in January to March and net exports of unwrought aluminium for the whole of 2016 were 255 kt. Net exports of aluminium semi manufactures from China slipped from 862 kt in January to March 2016 to 858 kt in the first three months of 2017.
According to WBMS, the calculated market balance for primary aluminium for January to March 2017 was a deficit of 356 kt which follows a deficit of 1120 kt recorded for the whole of 2016. Demand for primary aluminium for January to March 2017 was 15.05 million tonnes 1148 kt more than the first three months of 2016. Production in January to March 2017 rose by 990 kt compared with 2016.
Producer stock data is no longer published and total reported stocks fell by 175 kt during March and at the end of the month were 2670 kt which equated to 17 days’ demand and compares with 2761 kt at the end of 2016.
Total stocks held in the four exchanges in London, Shanghai, USA and Tokyo were 2238 kt at the end of March 2017 which was 87 kt below the December 2016 total. No allowance is made in the consumption calculation for large unreported stock changes especially those held in Asia.
Production in the EU28 rose by 1.7 per cent and NAFTA output fell by 5.9 per cent. EU28 demand was 13 kt lower than the comparable 2016 total. Global demand rose by 8.3 per cent during January to March compared with the levels recorded one year previously.
In March 2017, primary aluminium production was 4910.1 kt and consumption was 5066.7 kt.