Alcoa forecasts 2019 alumina surplus on China production rises

• Autores: Industrial Minerals
• Localización: Industrial Minerals, ISSN 0019-8544, Nº. 607, 2019 (Ejemplar dedicado a: Febrero)
• Idioma: inglés
• Texto completo no disponible (Saber más ...)
• Resumen

  • The removal of US sanctions on producer Rusal has added strength to Alcoa's forecast of a surplus in alumina in 2019.United States-based Alcoa, the world’s eighth-largest aluminium producer, has forecast that there will be a surplus of alumina in 2019 while it increases aluminium metal shipments. Fastmarkets’ alumina index will be used in a basket of prices to settle contracts on the London Metal Exchange, the exchange announced in January. 2018 supply squeeze In March 2018, Hydro’s Alunorte refinery was forced to reduce its output by 50% in line with state environmental concerns. The current alumina price of less than $400 per tonne reflects this, and we see a potential restart from the second quarter onward, with a return of 3 million tpy putting pressure on marginal Chinese producers,” BMO Capital Markets analyst Kash Kamal said.