Global Aluminium market reports a deficit during Jan to July
LONDON (Scrap Register): Global Aluminium market has reported a deficit during the first seven months of this year, as per the latest data from the World Bureau of Metal Statistics.
According to WBMS, the calculated market balance for primary aluminium for January to July 2017 was a deficit of 1381 kt which follows a deficit of 751 kt recorded for the whole of 2016.
Demand for primary aluminium for January to July 2017 was 35.93 million tonnes 2222 kt more than the first seven months of 2016. Production in January to July 2017 rose by 1504 kt compared with 2016.
Producer stock data is no longer published and total reported stocks fell by 27 kt during July and at the end of the month were 2273 kt which equated to 14 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 1840 kt at the end of July 2017 which was 487 kt below the December 2016 total. No allowance is made in the consumption calculation for large unreported stock changes especially those held in Asia.
Overall, global production rose in January to July 2017 by 4.6 per cent compared with the first seven months of 2016. Chinese output was estimated at 19531 kt and this currently accounts for over 56 per cent of the world production total. Chinese apparent demand was 8.8 per cent higher than 2016.
Chinese net exports were 211 kt in January to July and net exports of unwrought aluminium for the whole of 2016 were 255 kt. Net exports of aluminium semi manufactures from China rose from 2155 kt in January to July 2016 to 2312 kt in the first seven months of 2017.
Production in the EU28 increased by 0.1 per cent and NAFTA output fell by 2.9 per cent. EU28 demand was 162 kt higher than the comparable 2016 total. Global demand rose by 7 per cent during January to July compared with the levels recorded one year previously.
In July 2017, primary aluminium production was 4845.9 kt and consumption was 5154.6 kt.