According to foreign news on January 16, the World Bureau of Metal Statistics (WBMS) released a report on Wednesday showing that:
Copper:
From January to November 2018, the global copper market had an excess supply of 54,000 tons, and in 2017, 120,200 tons.
Global copper stocks fell by 165,000 tons in November from December 2017, of which LME copper stocks decreased by 2,500 tons.
From January to November 2018, global copper production in mines was 18.94 million tons, an increase of 2.6% over the same period last year.
From January to November 2018, the global refined copper output was 21.15 million tons, an increase of 1.0% over the same period last year. Among them, copper production in Zambia and Chile increased by 9,700 tons and 4,500 tons respectively.
Global copper consumption in January-November was 21.45 million tons, higher than that in the same period of last year, which was 21.26 million tons.
China’s apparent copper consumption from January to November 2018 was 11.311 million tons, an increase of 6.5% over the same period last year.
Copper production in the 28 EU countries fell by 1.4% year on year, while copper demand increased by 0.2% to 3.08 million tons over the same period.
In November 2018, the global output of refined copper was 1.988 million tons, while the consumption was 1.974 million tons.
Aluminum:
From January to October 2018, the global supply shortage of raw aluminium was 561,600 tons. In 2017, there was a shortage of 1.21 million tons in the raw material market.
China’s demand for raw aluminium in January-November was 54.918 million tons, an increase of 6,000 tons over the same period last year.
Primary aluminium production increased by 675,000 tons from January to November 2018.
No more producer inventory data will be released in the future. Total inventory will be reduced by 104,000 tons in November, which is 102,000 tons less than December 2017.
LME primary aluminium stocks increased significantly in November this year as Malaysian stocks increased, while stocks of other registered warehouses in Asia decreased.
By the end of November, LME’s inventory of aluminium was 2.244 million tons, compared with 2.346 million tons by the end of 2017.
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By the end of November 2018, the total inventory of the four major exchanges, London, Shanghai, the United States and Tokyo, was 1.786 million tons, down 157 million tons from the end of December 2017.
Global primary aluminium production increased by 1.3% from January to November 2018. China’s primary aluminium production is estimated to be 314.48 million tons, accounting for 58% of the world’s total production.
China’s apparent demand for primary aluminium increased by 6.6% from January to November 2018.
From January to November 2018, China exported 341,000 tons of unwrought aluminium, higher than 335,000 tons in the same period last year.
China’s net exports of semi-finished aluminium products in the first 11 months of this year were 4.252 million tons, up from 3.486 million tons in the same period last year.
The output of raw aluminium in the 28 EU countries decreased by 0.2% compared with the same period last year, while that in the North American Free Trade Area (NAFTA) fell by 3.8%.
Demand for raw aluminium in the 28 EU countries increased by 147,000 tons compared with the same period in 2017.
Global demand for primary aluminium was almost flat from January to November 2018.
In November 2018, global primary aluminium production was 4989,000 tons, while consumption was 501,999,000 tons in the same period.
Lead:
From January to November 2018, there was a shortage of 203,000 tons in the global lead market and 386,000 tons in the whole year of 2017.
Total inventory at the end of November was 67,000 tons lower than at the end of 2017.
From January to November 2018, the global production of refined lead (primary lead and recycled lead) was 10.053 million tons, an increase of 2.5% over the same period in 2017.
From January to November, China’s apparent demand was 4.541 million tons, an increase of 168,000 tons over the same period last year, equivalent to more than 42% of global demand.
Apparent demand in the United States from January to November decreased by 23,000 tons compared with the same period in 2017.
In November 2018, global refined lead production was 1019,100 tons and consumption was 106,191,000 tons.
Zinc:
From January to November 2018, there was an oversupply of 65,100 tons in the global zinc market, and a shortage of 438,000 tons in 2017.
From January to November, we reported a decrease of 146,000 tons compared with the same period last year, and a net decrease of 338,000 tons in Shanghai.
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LME zinc stocks increased earlier this year, but fell by 31.6 million tons in November to 112.6 million tons, compared with 181,000 tons at the end of last year. LME zinc stocks account for 22% of global zinc stocks, most of which are registered warehouses in the United States.
From January to November 2018, global refined zinc production decreased by 2.6% and consumption decreased by 6.1%. Over the same period, Japan’s apparent consumption was 483,800 tons, an increase of 9.8% from January to November 2017.
Global demand for refined zinc decreased by 795,000 tons from January to November 2017. China’s apparent demand is 5.576 million tons, accounting for 46% of global demand.
In November 2018, the global output of flat zinc ingots was 1.172 million tons, and the consumption was 124.75 million tons.
Nickel:
From January to November 2018, there was a shortage of 0.65 million tons in the global nickel market. In 2017, there was a shortage of 413,000 tons.
By the end of November 2018, LME could report a reduction of 154,000 tons in nickel stocks from the end of 2017.
From January to November 2018, the global production of refined nickel was 2.279 million tons, and the demand was 2.085 million tons.
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The global nickel production from January to November 2018 was 2.169 million tons, an increase of 289 million tons over the same period in 2017.
The nickel output of China’s smelters/refineries increased by 136,000 tons compared with the same period in 2017, and the apparent demand increased by 127,000 tons compared with the same period in 2017.
Apparent global demand increased by 168,000 tons over the same period last year.
In November 2018, the global production of nickel in smelters/refineries was 214,400 tons and consumption was 215,500 tons.
Tin:
From January to November 2018, there was a shortage of 134,000 tons in the world tin market.
Reportable inventory increased by 1500 tons compared with the end of 2017.
Global refined tin production decreased by 2,900 tons from January to November 2018 compared with the same period in 2017. Among them, Asia’s output decreased by 1,900 tons compared with the same period last year. China’s apparent demand decreased by 9.3% over the same period last year.
In January-November 2018, global tin demand was 345,000 tons, down 1.7% from the same period last year. Japan’s consumption is 259,000 tons, 700 tons less than in January-October 2017.
In November 2018, the global output of refined tin was 304,000 tons and consumption was 32,500 tons.
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