Global overcapacity in Aluminium on the G7 radar-Shanghai Metals Market

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Global overcapacity in Aluminium on the G7 radar

Industry News 10:53:45AM Jun 01, 2017 Source:Scrap Register

CANADA May 31 2017 4:18 PM
MONTREAL (Scrap Register): Recognition by G7 countries of the aluminium industry's overcapacity as a result of non-compliant practices that ignore fair market practices and regulations is another step in the right direction, if we are to resolve the crisis affecting the worldwide industrial capacity for producing aluminium, said Jean Simard, President and CEO of the Aluminium Association of Canada.

The AAC wishes to draw attention to the major role played by the Government of Canada and its representatives as part of the G7 in establishing a position on the matter, Simard added.

The Government of Canada's commitment in this issue is significant, and we hope that it will continue with the same determination in an effort to protect our industry and its growth going forward, he noted.

It is now up to the other G20 members, who will meet in July 2017 in Hamburg, Germany, to acknowledge the situation and adopt the necessary mechanisms to lower the surplus and eliminate interventionist, fraudulent practices.

The Aluminium Association of Canada salutes the Government of Canada's initiative in holding the next summit in La Malbaie, Quebec, making it possible to follow through on the process started in Taormina, ahead of the G20 2018 in Argentina.

Key Words:  aluminum overcapacity 

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Global overcapacity in Aluminium on the G7 radar

Industry News 10:53:45AM Jun 01, 2017 Source:Scrap Register

CANADA May 31 2017 4:18 PM
MONTREAL (Scrap Register): Recognition by G7 countries of the aluminium industry's overcapacity as a result of non-compliant practices that ignore fair market practices and regulations is another step in the right direction, if we are to resolve the crisis affecting the worldwide industrial capacity for producing aluminium, said Jean Simard, President and CEO of the Aluminium Association of Canada.

The AAC wishes to draw attention to the major role played by the Government of Canada and its representatives as part of the G7 in establishing a position on the matter, Simard added.

The Government of Canada's commitment in this issue is significant, and we hope that it will continue with the same determination in an effort to protect our industry and its growth going forward, he noted.

It is now up to the other G20 members, who will meet in July 2017 in Hamburg, Germany, to acknowledge the situation and adopt the necessary mechanisms to lower the surplus and eliminate interventionist, fraudulent practices.

The Aluminium Association of Canada salutes the Government of Canada's initiative in holding the next summit in La Malbaie, Quebec, making it possible to follow through on the process started in Taormina, ahead of the G20 2018 in Argentina.

Key Words:  aluminum overcapacity