Montreal Aluminium Summit calls for creation of Global Aluminium Forum on aluminium overcapacity

The national aluminium associations’ leaders from Canada, the United States, Europe and Japan have called for the creation of a Global Multilateral and Governmental Forum on Aluminium Overcapacity based on a robust international monitoring system. The national aluminium associations' leaders have urged the G7 leaders to formally request the G20 to create Global Aluminium Forum and an international monitoring system.

The event took place, with the active participation of the Canadian and Quebec governments, representatives of G7 governments and of the industry leading companies from Canada, USA, Europe and Japan on June 3rd and 4th in Montreal.

"The creation of a global forum will help us to address illegally subsidized Chinese overcapacity, which is challenging aluminium companies across the value chain and around the world. The roadmap we developed today is an important catalyst for those discussions. The aluminium industry is speaking loudly and with a single voice – now is the time to address the Chinese overcapacity challenge once and for all."  Heidi Brock, President and CEO of The Aluminum Association.

Global demand for aluminium is growing and will require commensurate growth in primary smelter production, recycling and semi-fabricated aluminium products. Subsidized overcapacity and market-distorting behaviour in China is undermining the growth of the global aluminium industry. The attendees of the summit defined a Roadmap to a sustainable global aluminium market that will be shared with the G7, and ultimately the G20 countries.

To ensure a sustainable solution to these market fundamentals issues, several criteria were identified to assess the best approach to build remedies: inclusive of whole value chain, protective of fairly produced and traded aluminium, multilateral, multistakeholder, sustainable over the long term, transparent and reliable, actionable, enforceable and verifiable, wide in scope, and empowered and accountable.

The Aluminium Association of Canada, The Aluminum Association, European Aluminium and the Japan Aluminium Association stand ready to support G7, G20, the OECD and other international institutions with knowledge, data and commitment to permanently resolve the global aluminium overcapacity.

"We have said this many times: aluminium overcapacity in China has significant impacts on our industry and only global solutions can effectively tackle this major challenge. The Montreal Aluminium Summit has opened the debate about what we can do and how an aluminium global forum could lead to a stronger global level playing field based on transparent data and robust governance. G20 leaders should put our ideas on the table and make it happen." Gerd Götz, Director General of European Aluminium.