World Aluminium surplus stood at 709k tonnes in Q1 2020: WBMS
LONDON (Scrap Register): According to the report by the World Bureau of Metals Statistics (WBMS), World primary aluminium surplus stood at 709,000 tonnes for the first three months of 2020. Aluminium surplus was 761,000 for the whole of 2019.
World primary aluminium demand came in at 15.7 million tonnes in the first three months of this year, an increase of 3.5 per cent from last year.
Aluminium output increased to stand about 16.4 million tonnes, up by 5.8%. In March alone, primary aluminium demand and production stood at 5.24 million tonnes and 5.54 million tonnes, respectively.
China’s primary aluminium production accounted for about 54% or 8.84 million tonnes of the world’s total output, amid higher availability of imported bauxite and alumina. Primary aluminium demand increased by 5.8% year on year.
In March, total reported stocks stood at 2.17 million tonnes, some 22,000 tonnes higher than the end of last year.