COLUMN-New aluminium crisis looms as output rises in demand void: Andy Home [Reuters]
Rio Tinto Plc (RIO)
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riotinto.com/investors-87.aspx
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Source: Reuters
COLUMN-New aluminium crisis looms as output rises in demand void: Andy Home (The opinions expressed here are those of the author, a columnist for Reuters) * Global Output by Region in Q1 2020: reut.rs/34Xvb61 * LME price, stocks and spreads: reut.rs/3avhQDa By Andy Home LONDON, April 22 (Reuters) - Global aluminium production rose by 2.1% over the first three months of this year, according to the latest figures from the International Aluminium Institute. This is a disaster for the world’s aluminium producers. Amid all the uncertainty generated by COVID-19, one thing is for sure. Aluminium usage hasn’t risen by anything close to that rate. It’s rather a question of how hard it has fallen. Given the lockdown of much of the world’s auto manufacturing capacity, a key end-use sector for aluminium, the intuitive answer is very hard indeed. In the opaque aluminium market the truest signal is price and that on the London Metal Exchange hit a four-year low of $1,455 per tonne earlier this mo
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