SHANGHAI, May 12 (SMM) – Global aluminum market deficit will expand to 1.1 million tonnes in 2017 from 0.7 million tonnes in 2016 since demand will grow faster than supply, Rusal said in its latest quarterly report.
The aluminum giant expects global aluminum supply to increase 4.3% to 61.6 million tonnes this year and global aluminum demand to rise 5.0% to 62.7 million tonnes.
Aluminum supply in China will grow 6% to 34.3 million tonnes in 2017, while demand in China will rise 6.7% to 33.5 million tonnes, according to the report.
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The company’s aluminum production totaled 910,000 tonnes in Q1 2017, down 2.1% quarter-on-quarter.
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