Higher demand leads to the shortage of global primary aluminium supply during Jan-Oct 2021
The World Bureau of Metal Statistics (WBMS) released a report on Wednesday, December 15, revealing the shortage of 1.366 million tonnes of global primary aluminium supply from January to October 2021, in contrast to the metal surplus of 1.271 million tonnes in 2020.
The global demand for primary aluminium from January to October 2021 totalled 57.62 million tonnes, an increase of 4.42 million tonnes a year ago. Demand is measured by apparent data, and the nationwide blockade may affect trade statistics.
Primary aluminium demand in Japan grew by 265,000 tonnes, while that in the United States increased by 112,000 tonnes.
The global production of primary aluminium rose 4.1 per cent during January-October compared to the same period last year.
As a result, inventory at the end of October was 1.359 million tonnes lower than the level at the end of 2020.
At the end of October 2021, LME aluminium stocks came in at 1.48 million tonnes. At the end of 2020, the inventory stood at 2.92 million tonnes.
China’s primary aluminium output is estimated to amount to 32.36 million tonnes in 2021. In October, global primary aluminium production was 5.6352 million tonnes, and demand was 5.7227 million tonnes.
LME aluminium price hikes by US$33/t to close at US$2,630/t; SHFE price moves up by US$71/t
Next articleRusal inaugurates the first phase of Taishet Aluminium Smelter, world’s most advanced low-carbon aluminium production plant
Grow with
AL Circle
