India Infoline reported that aluminum market surplus in January to February 2011 was 22% higher than the corresponding period previous year. Primary Aluminum surplus in January to February was 302000 tonnes as compared to 247000 tonnes in January to February 2010.
Demand for primary aluminum in January and February 2011 was 6.46 million tonnes, 103000 tonnes more then the equivalent total 2010. In January to February 2010 the usage of primary aluminum was 6.35.
Aluminum production in January and February rose by 158000 tonnes. In February 2011, primary aluminum production was 3354.3 kilo tonne and consumption was 3207.4 kilo tonne. Total Aluminum stocks stood at 6.92 million tonnes at the end of February which is equivalent to 63 days demand and compares with 6.50 million tonnes at the end of last year.
Global production rose by 2.4% in January and February compared with January and February 2010. Chinese output was estimated at 2588 kilo tonne and this currently accounts for 38% of the world production total. In 2010, China net imports totalled 390000 tonnes.
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