Alcoa said it expected the bauxite market to remain in surplus with global stockpile growth projected to continue in 2019, ranging between 7 million and 11 million tonnes, driven by China, which strategically holds bauxite due to uncertain sourcing within and outside of the country.
{alcircleadd}The company estimated that its total bauxite shipments to range between 47.0 and 48.0 million dry tonnes.
The company said it expected the alumina market to move to a surplus in 2019, ranging between 0.2 million and 1 million tonnes, which assumes ongoing, third-party supply disruptions in the Atlantic region. The projected alumina surplus is driven by China, where refining expansions are expected to outpace demand growth from smelting.
Total alumina shipments are expected to be between 13.6 and 13.7 million tonnes with anticipated operational improvements and higher year-on-year production.
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