Last year, the world aluminum market confronted a 1,209,000 tons shortage according to the World Bureau of Metal Statistics. The aluminum consumption was 6,0524,000 tons across the globe last year, contracting by 1,036,000 tons from 2017.
China’s aluminum production accounted for about 56 percent to 36,205,000 tons of the world total. World’s primary aluminum production totaled 64,393,000 tons, up by 1.6 percent from 63,404,000 tons year on year.
World's primary aluminum production continued increases from 20,072,000 tons in 2010, to 26,534,000 tons in 2012, and then 31,641,000 tons in 2015, and 36,205,000 tons last year respectively, leading to the expansion of the market share too. Last year’s aluminum production in Asia was 40,618,000 tons, accounting for 63.1 percent of the world total production.
Beginning this year, however, China’s aluminum production is expected to decrease because of the subdued demand and weakness in prices alike, while the industry decides to cut down 800,000 tons per year.
China’s aluminum producers declared to stop operation of 3.2 million tpy since the end of last year, because of the low level of margins. The Chinese government restricts to issue new licenses related to the production at the strip mines. China’s aluminum production problems are pulling up the price of bauxite in China.
Source: Steel&Metal News |
