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According to the monthly report released by the World Bureau of Metal Statistics (WBMS) on Wednesday (April 22nd), the global primary aluminum market faced an oversupply of 684,000 tons from January to February of this year, compared to an oversupply of 492,000 tons in 2019.

In the first two months of this year, global primary aluminum demand was 10.4 million tons, increasing by around 410,000 tons from the same period a year ago. The reported stock fell by nearly 160,000 tons during the period compared to December 2019, and the total production in the world had a year-on-year increase of 8.3% from January to February.

Due to an increase in the supply of bauxite and alumina, China's output was expected to reach around 6.06 million tons, accounting for roughly 55% of global output.