Global aluminum market has supply deficit of 191,750 tons in 2023
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Update time : 2023-07-28 18:07:25
Analysts expected there will be a supply deficit of 191,750 tons in the global aluminum market this year, and the figure will drop to 66,000 tons in 2024 due to higher production in Yunnan province.
Aluminum smelters in Yunnan have gradually resumed their production due to the eased power curtailment, which will certainly bring pressure on the aluminum price.
Earlier this year, reduced hydropower capacity in Yunnan restricted power consumption, resulting in aluminum production cut locally, thereby supporting the aluminum price.
China’s December aluminium production grows 4.2%, leading to 2024 output to 1 million tonnes shy of the production cap
