Global aluminum production picks up in July
Global aluminum production totaled 5.75 million tons in July, the International Aluminum Institute (IAI) reported this month.
The monthly total marked an increase from 5.57 million tons in June.
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China aluminum production rises in July
China, the world’s top aluminum producer, produced an estimated 3.34 million tons in July. The July total marked an increase from 3.24 million tons in June.
The July total also jumped from the 3.12 million tons produced in July 2020.
In July, China imported 469,030.6 tons of unwrought aluminum and aluminum products, the General Administration of Customs reported. The total increased from 454,397.4 tons in June.
Meanwhile, China exported 3.09 million tons through July, good for an increase of 12.7% year over year. Furthermore, on a value basis, China’s aluminum imports for the aforementioned period increased by 37.1% year over year, reflecting a generally bullish price environment for the base metal this year.
Around the world
Elsewhere, in Russia and Eastern Europe, aluminum production rose from 340,000 tons in June to 350,000 in July, the IAI reported.
Among the Gulf Cooperation Council producers, production rose to 496,000 tons from an estimated 473,000 tons.
Production in Western and Central Europe rose to 279,000 tons from 270,000 tons in June. Meanwhile, North American production reached 333,000 tons, up from 327,000 tons in June.
Asian production ex-China totaled 384,000 tons in July, up from 370,000 tons in June.
Global deficit
According to the World Bureau of Metal Statistics, the global aluminum deficit reached 1,021 kt for the January-June 2021 period.
Meanwhile, the market posted a surplus of 1,193 kt for the whole of 2020, the WBMS reported.
As for stock levels, LME stocks, including off-warrant stocks, totaled 2,331.9 kt at the end of June 2021, the WBMS reported. At the end of 2020, LME stocks totaled 2,917.0 kt.
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