Market and product
Primary aluminium surplus declines In Jan-April 2010
Primary Aluminium usage in January to April 2010 was 13.2 million tonnes up by 2799 kilo tonnes from corresponding period previous year. Production in January to April 2010 rose by 2190 kilo tonnes following on from 2906 kilo tonnes decline over the whole of 2009. Total reported stocks at the end of April were 46 kilo tonnes higher than at the end of 2009. At the end of April, total stocks were 6.53 million tonnes which equated to 67 days demand and compares with 6.48 million tonnes at the end of last year.
Chinese output was estimated at 5444 kilo tonnes and this currently accounts for 40% of the world production total. China is now a net exporter of unwrought aluminium with exports exceeding imports by 43 kilo tonnes. During the whole of the 2009 calendar year, Chinese net imports totalled 1430 kilo tonnes.
Indian futures markets of Aluminium are showing declining trend with prices down by INR 1 at INR 91.3 per kg in mid day. Further selling pressure will bring down prices towards INR 90 per kilo gram. Dismal housing numbers in US and further increase in Dollar has declined the prices.
(Sourced from www.indiainfoline.com)
