China’s aluminum cuts ‘not enough’
Nov 24, 2008 | 01:37 PM
| Tom Jennemann
Aluminum production cuts inside China alone won't be enough to prevent huge world surpluses next year, Macquarie Bank said in a report Monday.
The Anglo-Australian bank said there has been a "dramatic slowdown" in global aluminum production growth in recent months, but unless the world outside of China curtails more production the current supply/demand imbalance will only continue to grow.
International Aluminium Institute (IAI) data shows that primary global aluminum output, excluding China, totaled 2.19 million tonnes in October, up 3.6 percent from 2.11 million tonnes the previous month and 2.4 percent higher than 2.14 million tonnes in October last year (AMM, Nov. 21).....
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