Source: Wenhua Finance

The global primary aluminium market oversupplied 1.537m tonnes in the January-August period of 2020 and 500,000 tonnes in the whole of 2019, according to a report released by the World Bureau of Metals Statistics (WBMS) on Wednesday.

Demand for primary aluminium from January to August was 42.79 million tonnes, up 203,000 tonnes from the same period in 2019.

Measured on an apparent basis, the full impact of the national lockdown imposed to contain the COVID-19 outbreak may not be fully reflected in trade statistics.

Primary aluminum production rose 3.8% in the January-August period.

Overall reported inventories rose at the start of the year but fell in July and August, ending the month 186,000 tonnes above December 2019 levels.

Inventories in Shanghai rose steadily at the beginning of the year but fell by 300,000 tonnes in the second quarter, from 251,000 tonnes at the end of August.

At the end of December 2019, it was 185,100 tons.

LME stocks stood at 1.5502 million tonnes, compared with 1.473 million tonnes at the end of 2019.

Significant unreported inventory changes, particularly those held in Asia, are not included in consumption statistics.

Overall, global primary aluminum production from January to August 2020 increased by 3.81% compared with the same period last year.

Based on increased supplies of imported bauxite and alumina, China's output is estimated at 24.283 million tons, now accounting for about 55% of global output.

China's apparent demand increased by 8.9% from January-August 2019, and the production of semi-finished products increased by 6.2%.

China will become a net importer of unwrought aluminium by 2020.

From January to August 2020, China's net exports of aluminum semi-finished products were 2.778 million tons, compared with 3.294 million tons in the same period last year.

Exports of aluminium intermediate goods fell 14 per cent year on year.

From January to August, primary aluminium production in the 28 COUNTRIES of the European Union was up 0.5 percent year on year, and production in the North American Free Trade Area (NAFTA) was up 4.5 percent.

From January to August, the amount of primary aluminum sought by 28 eu countries fell by 934,000 tons compared with the same period last year.

From January to August, global demand increased by 0.48% year on year.

In August 2020, the output of primary aluminum was 5,763,500 tons and the demand was 5,461,400 tons.

Established in 1992,Shuangheng Group is a diversified industrial and trade integrated  enterprises with fixed assets have exceeded 1.5 billion RMB.We have occupied us in Aluminum Solar Mounting, Aluminum Profiles, Carbon Steel Brackets, Baby Diapers,Women Sanitary Pads,Disposable Face Masks, Environmental brick and other fields for 28 years.