Aluminum Market Outside China In 1M-Ton Surplus In 2Q-Hydro

LONDON, July 27 -- The aluminum market outside of China was in a surplus of around 1 million metric tons on an annualized basis in the second quarter of 2010, according Tuesday to Norwegian producer Norsk Hydro ASA (NHY.OS).

Global demand for aluminum excluding China was around 24 million metric tons on an annualized basis, while production outside China increased to 25 million tons.

Chinese demand for primary aluminum meanwhile rose to 17.6 million tons on an annualized basis with output relatively stable at around the same level, resulting in a balanced market during the quarter, Hydro added.