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Primary Aluminium Market in Deficit in January to July 2019

https://en.steelhome.com [SteelHome] 2019-09-19 10:27:02

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The calculated market balance for primary aluminium for January to July 2019 was a deficit of 651 kt which follows a deficit of 855 kt recorded for the whole of 2018. Demand for primary aluminium for January to July 2019 was 36.5 million tonnes, 655 kt more than in the same seven months of 2018. Production in January to July 2019 rose by 783 kt compared with the same period in 2018. Producer stock data is no longer published and total reported stocks rose slightly during July and closed at the end of the month 530 kt below the December 2018 level. Total LME stocks also rose during July, mostly in Malaysian warehouses, Total stocks at the end of July 2019 were 1899.5 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 1430 kt at the end of July 2019 which were 521 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 July 2019 by 2.2 per cent compared with the first seven months of 2018. Chinese output was estimated at 20415 kt and this currently accounts for about 57 per cent of the world production total. Chinese apparent demand was 7.5 per cent higher than in January to July 2018. Chinese net exports of unwrought aluminium were 250 kt during January to July 2019 which compares with 236 kt in the comparable period in 2018. January to July 2019 net exports of aluminium semi manufactures were 2899 kt which compares with 2542 kt for the first seven months of 2018.

Production in the EU28 was 2.2 per cent lower than the previous year and NAFTA output rose by 6.7 per cent. EU28 demand was 195 kt lower than the comparable 2018 total. Global demand rose by 1.8 per cent during January to July 2019 compared with the levels recorded one year previously.

In July 2019, primary aluminium production was 5255.8 kt and consumption was 5077.6 kt.

Source: WBMS
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