Morning Bites (part 1)

📈Global primary aluminium production remained flat YoY in April, after the 1% YoY growth in March, the International Aluminium Institute (IAI) reports. Meanwhile, last month, China’s aluminium output was unchanged YoY, following the series of recent increases. The country’s output was also 12% higher than the pre-Covid (2019) level, while ex-China production rose 1% YoY (+2% vs. 2019). Despite the stable dynamics in April, we remind readers that China might relaunch its previously suspended capacities, as well as commission new smelters in FY23 (together representing 6% of global aluminium supply). Although this outlook seems overly ambitious to us, were it to be realised, that might put substantial pressure on the metal’s price

#aluminium 
https://metals-wire.com:3000/sector/Aluminium