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Primary Aluminium Market in Deficit in January to April 2019

https://en.steelhome.com [SteelHome] 2019-06-20 09:51:59

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The calculated market balance for primary aluminium for January to April 2019 was a deficit of 143 kt which follows a deficit of 966 kt recorded for the whole of 2018. Demand for primary aluminium for January to April 2019 was 20.33 million tonnes, 164 kt more than in the same four months of 2018. Production in January to April 2019 rose by 249 kt compared with the same period in 2018. Producer stock data is no longer published and total reported stocks fell during April and closed at the end of the month 190 kt below the December 2018 level. Total LME stocks rose during April with increases in Asia more than compensating for falls in Europe and USA. Total stocks at the end of April 2019 were 2239 kt which compares with 2429 kt at the end of 2018. Total stocks held in the four exchanges in London, Shanghai, USA and Tokyo were 1779 kt at the end of April 2019 which were 172 kt lower than in December 2018 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 April 2019 by 1.3 per cent compared with the first four months of 2018. Chinese output was estimated at 11484 kt and this currently accounts for 57 per cent of the world production total. Chinese apparent demand was 7.9 per cent higher than in January to April 2018. Chinese net exports of unwrought aluminium were 168 kt during January to April 2019 which compares with 138 kt in the comparable period in 2018. January to April 2019 net exports of aluminium semi manufactures were 1606 kt which compares with 1194 kt for the first four months of 2018.

Production in the EU28 was 2.3 per cent lower than the previous year and NAFTA output rose by 6.5 per cent. EU28 demand was 35 kt higher than the comparable 2018 total. Global demand rose by 0.8 per cent during January to April 2019 compared with the levels recorded one year previously.

In April 2019, primary aluminium production was 5126.0 kt and consumption was 5257.3 kt.

Source: WBMS
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