Harbor: Aluminum Outlook At Record High But Outlook 'Challening'

Harbor Intelligence says global aluminum output is at record highs, but still sees a “challenging” outlook. Based on International Aluminum Institute data, global primary aluminum production grew in September to an annualized rate of 45.05 million tons, up 11.7% from a year ago with China delivering the bulk of the growth. In China, output rose to a fresh all-time high of 19.2 million annualized tons, Harbor says. Looking forward, Harbor says it expects “limited output expansions and less output than promised” in the world. Analysts say North America restarts have run their course. The non-China pipeline “is now dry,” depending on India, which may deliver less than promised, Harbor says. “In China, at least a portion of the growth delivered by Northwest producers will be offset by increasing power-related cutbacks in the Southeast.”