Alumina tags feel heat of surplus rise, demand drop
Dec 02, 2008 | 09:20 AM
| Tom Jennemann
Alumina production grew in the third quarter while demand for the raw material has taken a significant hit, causing the global surplus to grow and placing significant downward pressure on pricing, analysts said.
Global metallurgical alumina production, excluding China, was nearly 13.9 million tonnes in the third quarter, up 1.2 percent from nearly 13.7 million tonnes in the same 2007 quarter and up slightly from 13.8 million tonnes in the second quarter this year, according to data from the International Aluminium Institute, London.
Macquarie Research put third-quarter Chinese alumina production at about 6 million tonnes, representing a roughly 25-percent increase from 4.8 million tonnes in the same 2007 quarter and about 7 percent higher than the 5.6 million tonnes produced in the second quarter. ....
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