ROW Production Finally Responding to Market Conditions; Tougher Context for Bauxite Importers
ROW’s metallurgical alumina producers seem to be finally responding to lower prices and global market surplus; production was down to its lowest level since Q1 2010. IAI data showed that ROW’s metallurgical alumina production declined 3.9% m/m in May to an annual run rate of 51.253 million tons. By region, output was down in Western Europe (0.7 million tons annualized), Asia (0.6 million tons), North America (0.6 million tons) and Latin America (0.3 million tons), but increased marginally in Australia and Eastern Europe (0.1 million tons annualized in total). So far this year...