Market Speaks: Global Production Of Primary Aluminium Rises Marginally This Year

17 Jun 2022 , 12:20 PM

According to a latest update from World Bureau Of Metal Statistics or WBMS, the calculated market balance for primary aluminium for the period of January to April 2022 was a surplus of 400 kt which follows a deficit of 1819 kt recorded for the whole of 2021. Demand for primary aluminium for January to April 2022 was 21.9 million tonnes, 750 kt less than in the comparable period in 2021. Production in January to April 2022 rose by 0.5 per cent. Total reported stocks fell over the four months to close at the end of the period 417 kt below the December 2021 level. Total LME stocks (Including off warrant stocks) were 833 kt at the end of April 2022 which compares with 1213.4 kt at the end of 2021. Shanghai stocks decreased in April and ended the period 33.4 kt below the December 2021 total. Overall, global production of primary aluminium rose in January to April 2022 by 0.5 per cent compared with the same period in 2021. Chinese output was estimated at 13,006 kt despite recording higher availability of imported feedstocks during the early months of the year. Chinese metal production currently accounts for about 58 per cent of the world production total. Chinese apparent demand was 5.2 per cent lower than in January to April 2021 and the output of semi-manufactures rose by 1.5 per cent compared with the production in 2021. China became a net importer of unwrought aluminium in 2020. During January to April 2022 Chinese net exports of aluminium semi manufactures were 1890 kt which compares with 4926 kt for the whole of 2021. Exports of semi manufactures rose by 24 per cent compared with the January to April 2021 total. Japanese demand was up by 64 kt and US demand increased by 56 kt. Global demand fell by 3.3 per cent during January to April 2022 compared with the levels recorded one year previously. April metal balances for primary aluminium recorded production at 5744.7 kt and demand at 5675.9 kt.Powered by Commodity Insights