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WBMS: January-August 2019, the supply gap of primary aluminum market was 262,000 tons

2019-10-21
On October 16, the World Bureau of Metal Statistics (WBMS) released data on Wednesday showed that the supply gap of primary aluminum in January-August 2019 was 262,000 tons, and the gap in 2018 was 631,000 tons.

The demand for primary aluminum in January-August 2019 was 41.57 million tons, a decrease of 645,000 tons from the same period in 2018.

From January to August 2019, primary aluminum production decreased by 324,000 tons.

WBMS no longer publishes producer inventory data, and the total reported inventory declined slightly during the month of August. The inventory at the end of August was 654,000 tons lower than the December 2018 level.

LME total inventories also declined during the month of August, mostly in Malaysian warehouses. As of the end of August 2019, the total inventory was 1.775 million tons, and at the end of 2018 it was 2.429 million tons.

As of the end of August 2019, the total stocks held by the four exchanges in London, Shanghai, the United States and Tokyo were 1,828,200 tons, which was 663,000 tons lower than the total in December 2018. A large number of unreported inventory movements were not included in the consumption statistics, especially in Asia.

Overall, global primary aluminum production fell 0.8% year-on-year from January to August, 2019. China's production is estimated at 23.466 million tons, currently accounting for about 57% of global production. China's apparent demand increased by 1.2% from January to August of 2018. From January to August 2019, China's net export of unwrought aluminum was 271,000 tons, compared with 266,000 tons in the same period last year. From January to August, 2019, the net export volume of aluminum semi-finished products was 3.357 million tons, compared with 2.854 million tons in the same period last year.

The primary aluminum production in the EU 28 countries increased by 0.5% compared with last year, and the North American Free Trade Area (NAFTA) production increased by 5.9%. The demand for 28 EU countries fell by 188,000 tons year-on-year.

From January to August 2019, global demand fell by 1.5% year-on-year.

In August 2019, the output of primary aluminum was 5,317,200 tons, and the consumption was 5,324,600 tons.