Aluminium in surplus during January-October 2012

World Aluminium markets remained in a surplus of 143000 tonnes in the first ten months of 2012, this was following a surplus of 1.87 million tonnes recorded in the full year ended 2011. World Bureau of Metal Statistics (WBMS) said that total reported stocks were 7.23 million tonnes at the end of September 2012, up 31000 tonnes in October. The stocks were up from 6.99 million tonnes by end of 2011. Total stocks held in the four exchanges in London, Shanghai, USA and Tokyo were 5.52 million tonnes at the end of October 2012, which was 33000 tonnes above the December 2011 total.

Aluminium production in January-October 2012 increased by 588000 tonnes from the same period in 2011 and following on from a 3.10 million ton increase over the whole of 2011. Global production in the first ten months increased by 1.6% compared to similar period last year. Chinese output was estimated at 16.46 million tonnes and this currently accounts for 43 per cent of the world production total. Aluminium production in October was 3.87 million tonnes.

China was a net importer of unwrought aluminium during January to October with imports exceeding exports by 52000 tonnes. Production in the EU27 fell by 20%. EU27 demand was 12.6% below the comparable period for 2011 total. Consumption of primary Aluminium was 42.83 million tonnes in 2011, 2.26 million tonnes more than the equivalent total 2010. In October 2012, consumption of primary Aluminium stood at 3.87 million tonnes.