WBMS£ºGlobal Primary Aluminium Market Is Oversupplied By 685,000 Tonnes in 2019

The global primary aluminium market was oversupplied by 685,000 tonnes in 2019 and 118,000 tonnes in 2018, according to calculations in the monthly report released by the world bureau of metals statistics (WBMS) on Wednesday.

Global primary aluminum demand in 2019 was 62.27 million tons, down 1.032 million tons from the previous year.Global primary aluminium production in 2019 was 465,000 tonnes lower than the previous year.

LME inventories rose in December, with most of them concentrated in Asian warehouses.By the end of December 2019, the total stock was 2.149 million tons and 2.429 million tons at the end of 2018.

At the end of December 2019, the four major exchanges in London, Shanghai, the USA and Tokyo held a combined 1.675m tonnes of stocks, down 280,000 tonnes from the end of December 2018.

Overall, global output fell 0.7 percent in 2019 from a year earlier.China's production is estimated at 35.044 million tons, currently accounting for about 56 percent of global output.China's apparent demand rose 0.8% in 2019 from a year earlier.China's net exports of unwrought aluminium were 287,000 tonnes in 2019 and 363,000 tonnes in 2018.China's net exports of semi-finished aluminum products stood at 4.807 million tons in 2019, up from 4.691 million tons a year earlier.

Primary aluminium production in the 28-nation European Union rose 0.7 per cent year on year, while output in the north American free trade area rose 4.2 per cent year on year.Demand from the 28 eu countries was 315,000 tonnes lower than in 2018.Global primary aluminum demand fell 1.6 percent in 2019 from 2018.

In December 2019, primary aluminum output was 5.4332 million tons and consumption was 5.3207 million tons.

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