October 2019 | Aluminium Weekly Market Tracker
China's aluminium production continued to shrink in September: Market Summary and Analysis
LME aluminium’s net short fund position (NSFP) expanded for the third consecutive week, with fresh selling of 798 lots in the week to October
China's aluminium production continued to shrink in September Production of primary aluminium in China continued to decline on a year-on-year basis in September. Total output dipped by 1.6% y-o-y to 2.90 million tonnes last month, according to the latest data from Chinas National Bureau of Statistics (NBS). This follows year-on-year declines of 0.3% in August and 2% in July of 2019. Still, total output for the first nine months of 2019 is up by 1.1% from the corresponding period of 2018. Alcoa has lowered its forecast of global demand growth Meanwhile, the global aluminium industry continues to face a challenging backdrop. Alcoa reported that global demand may contract by up to 0.6% year on year in 2019, a contrast to its previous forecast of growth of 1.25-2.25%. Also, the firm has announced plans to offload non-core assets of up to $1 billion dollars over the next 12-18 months in a...
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