The global primary aluminum market was 1.54mn mt in surplus at the end of 2020, compared with a surplus of 462,000mt in 2019, according to the World Bureau of Metal Statistics (WBMS).
Production is estimated to have risen by 1pc in 2020 against 2019, but the bureau did not disclose actual volumes. Demand for primary aluminum, measured on an apparent basis, stood at 64.77mn mt for the full year 2020, down by 422,000mt or 0.6pc in 2019.
China’s output was estimated at 37.8mn mt, accounting for 56pc of global production. Demand in China increased by 6.4pc in 2020 on an annual basis. Production in the EU was 0.5pc lower in 2020 from 2019 while demand in the region declined by 1.09mn mt in the same period under comparison. Production in North America rose by 4pc in the full year 2020.