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Aluminium market in 42,000 tons surplus in January-May – WBMS

The primary aluminium market was in a surplus of 42,000 metric tons in the first five months of 2006, the equivalent of about one day's consumption, according to data released by the World Bureau of Metal Statistics, or WBMS.

Demand for primary aluminium was 13.70 million tons during the same period of 2006, up 4% on the comparable total for 2005, WBMS said.

Total reported stocks were down 19,000 tons to just under than 3 million tons, WBMS added. No allowance is made in the consumption calculation for unreported stock changes.

Aluminium production rose by almost 7% to 13.74 million tons in January to May.

Overall, world production of primary aluminium rose by almost 900,000 tons compared with January to May 2005.

"China accounted for half of the growth, using imported bauxite as feed," WBMS said.

"Chinese bauxite imports rose to 2.6 million tons in the first five months of the year from 0.55 million tons in the comparable period of 2005," WBMS added.

Increased primary aluminium production in Russia, Canada, Bahrain, Brazil and the reemergence of Ghana contributed the remainder of the additional output of metal.

Demand rose by only 550,000 tons to 13.70 million tons, with almost all of the increases recorded in China where total demand was 22% higher.

WBMS said that Chinese demand slipped in the first three months of the year but has recovered to 650,000 tons and 692,000 tons in April and May respectively.

Output of processed aluminium products in China was 35% higher than in the previous year.

In May, world production was 2.85 million tons and demand was 2.81 million tons, WBMS said.

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