The total reported stocks of the metal declined during the five-month period to close at 447 kt below the end-2021 levels.
SEATTLE (Scrap Monster): The January to February 2022 Metals Balances Report published by the World Bureau of Metal Statistics (WBMS) suggests that primary aluminium market ended in surplus of 319 kt. This follows a deficit of 1,844 kt recorded for the whole of the previous year.
The global aluminum production during the initial five-month period of the current year rose by nearly 2.0% upon comparison with the year before. The Chinese output, at 16,199 kt, accounted for almost 57% of the global aluminium production. The Chinese net exports of aluminum semi manufactures rose by 1.7% during Jan-May ‘22, in comparison with the corresponding period a year before.
The demand stood lower by 462 kt from the comparable five-month period in 2021 at around 28.33 million tonnes. The Chinese apparent demand inched lower by 2.5% than in Jan-May ‘21. The Japanese demand was up by 71 kt, while the U.S. demand too rose modestly by 128 kt.
The total reported stocks of the metal declined during the five-month period to close at 447 kt below the end-2021 levels. The Shanghai stocks declined during the month of May this year and ended the period 38 kt below the end-2021 levels. Meantime, the LME stocks closed at 744 kt at the end of May, compared with 1,213.4 kt at the end of 2021.
In May 2022, primary aluminium production totalled 6,394.0 kt, whereas the demand stood at 5,951.9 kt.
Image and article originally from www.scrapmonster.com. Read the original article here.