Market Speaks: Global Aluminium Demand Spikes 7.8% In 2021

16 Feb 2022 , 05:37 PM

According to the World Bureau Of Metal Statistics, the calculated market balance for primary aluminium for the period of January to December 2021 was a deficit of 1931 kt which follows a surplus of 1041 kt recorded for the whole of 2020. Demand for primary aluminium for January to December 2021 was 69.06 million tonnes, 5015 kt more than in the comparable period in 2020. Demand is measured on an apparent basis and national lockdowns may have distorted the trade statistics. Production in January to December 2021 rose by 3.1 per cent. Total reported stocks fell in December to close at the end of the period 1621 kt below the December 2020 level.

Overall, global production of primary aluminium rose in January to December 2021 by 3.1 per cent compared with the whole of 2020. Chinese output was estimated at 38502.6 kt despite lower availability of imported feedstocks during the year and this currently accounts for about 57 per cent of the world production total. Chinese apparent demand was 5.1 per cent higher than in January December 2020 and the output of semi-manufactures rose by 5.6 per cent compared with the production in 2020. China became a net importer of unwrought aluminium in 2020. During January to December 2021 Chinese net exports of aluminium semi manufactures were 4926 kt which compares with 4266 kt for the whole of 2020. Exports of semi manufactures rose by 16 per cent compared with the January to December 2020 total

Japanese demand was up by 308 kt and US demand increased by 313 kt. Global demand rose by 7.8 per cent during 2021 compared with the levels recorded one year previously. December metal balances for primary aluminium recorded production at 5513.3 kt and demand at 5678.8 kt.

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