Expecting a World Alumina Market Deficit for 2020

KEY MESSAGES

ALUMINA

1. As expected, alumina spot prices have continued to rally.
    
2. We have downgraded our forecast for China’s alumina production in 2020 to a contraction of… %.
    
3. The global alumina market is set to shift to a deficit this year amid expectations of lower production in China.
    
4. HARBOR’s analysis suggests Australia alumina spot prices have bottomed-out and are set to continue to rally in H2 2020 toward… per mton. 

More details in full report.