Metals

Metals Data Response

20 August, 2018

Global Aluminium Production (Jul.)

Global aluminium output was up by nearly 3% y/y in July, owing to higher production in China and India. We had warned that this could happen as the prospect of China’s anti-pollution winter cuts and US sanctions on Russia’s Rusal is encouraging producers to ramp up output. We think that supply will continue to increase in Q3, which underpins our view that prices are unlikely to recover.

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