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Alcoa's aluminum production cuts not to help the aluminium industry considerably
Edited by : AL CIRCLE
1 min read
Aluminum production is rising in Africa, China, the Arabian Gulf, Eastern and Central Europe and (this surprised us a little) North America, but it is falling in Oceania, South America, Western Europe and Asia (ex-China), according to FastMarkets. We continue our Aluminum Outlook 2014 from Part One here.
Collectively, production in the world ex-China totaled 17.06 million tons in the first eight months of the year period, down from 17.131 million tons in the same period of 2012 – all the net growth is in China, where production climbed to 15.841 million tons in the first eight months of the year from 14.541 million tons a year previously.
While on the subject of closing production, don’t be too wowed by statements from market leaders like Alcoa Inc. talking about how much capacity they have closed – they may have closed plants in Europe and North America, but they have opened new plants in the Middle East.
FastMarkets notes that despite announcements of non-Chinese production cuts of 760,000 tons this year, more capacity is being added.
Collectively, production in the world ex-China totaled 17.06 million tons in the first eight months of the year period, down from 17.131 million tons in the same period of 2012 – all the net growth is in China, where production climbed to 15.841 million tons in the first eight months of the year from 14.541 million tons a year previously.
While on the subject of closing production, don’t be too wowed by statements from market leaders like Alcoa Inc. talking about how much capacity they have closed – they may have closed plants in Europe and North America, but they have opened new plants in the Middle East.
FastMarkets notes that despite announcements of non-Chinese production cuts of 760,000 tons this year, more capacity is being added.
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