Global aluminium demand rose by 6% in 2017 to 64 million tonnes, amid coordinated economic growth in major regions of the world, including China, Europe and North America. In 2018, global demand is expected to build on the positive foundations of the past year to increase by 5% to 67.3 million tonnes. Robust demand growth left the global aluminum market balance in a deficit at around 1 million tonnes in 2017 and is expected to rise to above 2 million tonnes in 2018. The LME aluminium price rose 22.7% YoY in 2017 and reached USD2,256/t on January 2, 2018, nearly a sixyear high, consolidating later at a new level of USD2,200/t as a result of widespread capacity cuts in China and a steady reduction of LME stocks - further evidence of a global market deficit. The rising cost inflation in China made a significant share of operating Chinese aluminium capacity barely breakeven by the end of 2017.
Updated On 28-Feb-2018
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