Primary aluminum market is in short supply

During 2014, the global primary aluminum market moved into a deficit zone. According to a report by the World Bureau of Metals Statistics (WBMS), the market reached a deficit of 542 thousand tons during 10 months of 2014 compared to a surplus of 570 thousand tons recorded throughout 2013.

Primary aluminum production increased by 1398 thousand in the period from January to October this year. At the same time, the stock of the received metal decreased by 173 thousand tons during October alone. Stocks at the end of ten months amounted to 6,564 thousand tons. It should be noted that the level of reserves at the end of 2013 was at the level of 7171 thousand tons.

Global aluminum production increased 3.5 percent, while consumption rose 2,212,000 tons to 41.43 million tons between January and October this year. China accounts for nearly 48 percent of world production, with production at 19.633 million tonnes. Production in the EU region fell slightly by 0.26 percent. In October, primary aluminum production was 4.1731 million tons, while consumption was 4.1746 million tons.

The WBMS report also reports that global aluminum demand rose 5.6 percent in January-October this year, compared with the corresponding period last year. Chinese demand increased by 7.6 percent during 2014, while demand in the EU grew more significantly.