Global Aluminum Surplus Is Three Times Its 2019 Level
- According to the World Bureau of Metal Statistics, the global aluminum market reached a surplus of 1,603 kiloton in the January to September 2020 period, triple the 480 kiloton surplus recorded in all of 2019. North American production expanded 4.3 percent year-over-year and production also rose in China, increasing 3.8 percent for the January to October period. Click here to read the full report from MetalMiner.
- The China Iron and Steel Association also announced last week that China registered an increase in steel output in the first 10 months of this year, growing 5.5 percent from January 2020 to October 2020 compared to the same time period in 2019. The association expects the country’s annual output of crude steel to exceed one billion tons in 2020, representing year-over-year growth of three to five percent.