Saturday, July 26, 2014

Aluminium Production Shows Slight Decline, Still Close To All Time Highs: IAI

Aluminium Production Shows Slight Decline, Still Close To All Time Highs: IAI
International Aluminium Institute (IAI) stated that world aluminium market has showed again a slight decline in production. But, rising demand for aluminium made some relief in the month of June and that was close to all time highs.
IAI data showed that the production of primary aluminium in the month of June 2014 was about 4.303 million tonnes and that of May was about 4.331 million tonnes. Even though, it reported a slight decline, when calculating on year-on-year basis production figures have some improvements. It says that the aluminium production increased 1.8 pct on YoY basis in the month of June.
In the month of March, the aluminium production figure was at record highs of about 4.406 million tonnes. June month production has gained by 1.8 pct of last year figure 4.224 million tonnes. China is the main contributor in world aluminium production by producing a total of 1.95 million tonnes in June. In China May month production was around 1.898 million tonnes.
This implies that the China shares 45.31 pct in the world aluminium production. On YoY, production in China has increased by 6 pct, when compared to 1.84 million tonnes produced in June 2013. The unreported Chinese aluminium production is estimated about 250000 tonnes.
In the month of June 2014, production in Asian countries including China was about 193000 tonnes, when compared to 203000 tonnes produced in May 2014. IAI also noted that the production in the GCC region has also reported an appreciation. The net aluminium production in GCC in June was about 412000 tonnes, increased by 26 pct from 327000 tonnes in June 2013. 

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