From January To August, The Global Primary Aluminum Market Supply Shortage Of 643,300 Tons

- Oct 19, 2018-

1.The report released by the World Bureau of Metal Statistics (WBMS) on Wednesday showed that the global primary aluminum market was short of 643,300 tons from January to August 2018. The demand for primary aluminum in January-August was 40.5 million tons, a decrease of 148,000 tons from the same period of the previous year. From January to August, primary aluminum production increased by 143,000 tons. From January to August, global primary aluminum production increased by 0.4% year-on-year. China's primary aluminum production is estimated at 22,233,000 tons. Global primary aluminum demand decreased by 0.4% from January to August 2018. In August 2018, the global primary aluminum production was 5.134 million tons, and the consumption was 5.262 million tons.

2.Industry News: (1) Rio Tinto announced on Tuesday that it will cut its 2018 aluminum production target by 4.2% to 340-3.5 million tons, affected by the industrial operation of the Becancour smelter in Canada. (2) According to WBMS, the global primary aluminum market supply shortage was 643,000 tons from January to August 2018.

3.Alcoa CEO: Although the Rusal sanctions have been postponed, buyers are still nervous about continuing to snap up aluminum. Alcoa chief executive Roy Harvey said in a telephone interview that even if the US Treasury allowed United Co. Rusal to continue operating until December, consumers continued to snap up. Aluminum metal on the market. Harvey said: "The real uncertainty is that if the sanctions continue, it will cause much impact on the supply of Rusal. We will keep close contact with the government as much as possible to understand the development of the situation. The real result should be The US government has now allowed Deripaska to hold more talks on sanctions issues. Considering the 2019 capital allocation plan, Harvey told analysts in a conference call that consumers might use more aluminum scrap to avoid importing tariff-levied products, thereby damaging the demand for primary aluminum.