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Global Aluminum Market With 384,000-ton Surplus!
Edited by : AL CIRCLE
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There is a huge demand supply gap in the prevailing aluminium market according to Metal Statistics. The global aluminum market was in a surplus by 384,000 metric tons between January and March, the World Bureau of Metal Statistics said Wednesday.
This compares with a 1.81 million ton surplus in all of 2011, it added.
Overall, global primary aluminum production rose 5.5% on the year in the first quarter while global primary aluminum demand rose 6.1% on the year during the same period. Supply and demand tonnage figures weren't disclosed.
Total reported primary aluminum stocks reached 7.22 million tons as of the end of March compared with 7.0 million tons at the end of 2011. The March-end figure equates to just under 62 days of demand, WBMS said.
Of that total, stocks held in the four exchanges in London, Shanghai, U.S. and Tokyo were 5.45 million tons at the end of March, up 260,000 tons from stock levels in December 2011.
No allowance is made in the consumption calculation for unreported stock changes especially those held in China, the bureau said.
This compares with a 1.81 million ton surplus in all of 2011, it added.
Overall, global primary aluminum production rose 5.5% on the year in the first quarter while global primary aluminum demand rose 6.1% on the year during the same period. Supply and demand tonnage figures weren't disclosed.
Total reported primary aluminum stocks reached 7.22 million tons as of the end of March compared with 7.0 million tons at the end of 2011. The March-end figure equates to just under 62 days of demand, WBMS said.
Of that total, stocks held in the four exchanges in London, Shanghai, U.S. and Tokyo were 5.45 million tons at the end of March, up 260,000 tons from stock levels in December 2011.
No allowance is made in the consumption calculation for unreported stock changes especially those held in China, the bureau said.
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