Global Aluminium market defict widens to 985 kilo tons in 2017
LONDON (Scrap Register): The calculated market balance for primary aluminium for January to December 2017 was a deficit of 985 kilo tons which follow a deficit of 659 kilo tons recorded for the whole of 2016, according to the latest figures released by the World Bureau of Metal Statistics.
Demand for primary aluminium for January to December 2017 was 58.74 million tonnes 748 kilo tons more than the whole of 2016. Production in January to December 2017 rose by 421 kilo tons compared with 2016.
Producer stock data is no longer published and total reported stocks rose by 115 kilo tons during December and at the end of the month were 2761 kilo tons which equated to 17 days’ demand and compares with 3787 kilo tons at the end of 2016.
Total stocks held in the four exchanges in London, Shanghai, USA and Tokyo were 2324.2 kilo tons at the end of December 2017 which was 908 kilo tons 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 December 2017 by 0.7 per cent compared with the whole of 2016. Chinese output was estimated at 31870 kilo tons and this currently accounts for 55 per cent of the world production total.
Chinese apparent demand was 1.8 per cent higher than 2016. Chinese net exports were 255.3 kilo tons in January to December and net exports of unwrought aluminium for the whole of 2016 were 342 kilo tons. Net exports of aluminium semi manufactures from China fell from 3777 in January to December 2016 to 3688 in the whole of 2017.
Production in the EU28 rose by 0.4 per cent and NAFTA output fell by 9.8 per cent. EU28 demand was 469 kilo tons higher than the comparable 2016 total. Global demand increased by 1.3 per cent during January to December compared with the levels recorded one year previously.
In December 2017, primary aluminium production was 5096.8 kilo tons and consumption was 5251.9 kilo tons.