Base Metals Preview: World Primary Aluminium Production Is Above 60 Million Tonnes

World primary Aluminium consumption around the globe reached nearly 60 million tonnes, thus showing a progress of 5.0 percent. The growth in demand showed a marginal recovery in China from 6.0% in 2015 to 7.0% in 2016, as a result of the incentive offered by the government. Presently, China, the biggest consumer of the metallic element, contributes to over 50% of the overall global utilization.

Excluding China, global consumption in the rest of the world (ROW) also picked up from a minor increase of about 1.0% in 2015 to roughly 3.0% in 2016. Areas like Europe and Japan (both up by 3.0 percent) gave a major impetus to the demand during 2016 while the demand grew marginally in North America from 2.5% in 2015 to approximately 1.8 % in 2016. In contrast, the increase in primary global aluminium production drastically averaged from roughly 5.5% in 2015 to 3.5% in 2016.