US aluminium producer Alcoa forecasts global aluminium surplus to be in the range of 0.6-1mn mt in 2020a as against a deficit in 2019.
In 2019, the company’s global aluminium demand growth rate estimate was between negative 0.4pc to negative 0.2pc, with a deficit of 0.9-1.1mn mt. The global alumina market closed with a surplus estimated between 0.6-1mn mt, a smaller surplus than the company’s previous estimate.
In 2020, Alcoa expects a balanced alumina market ranging between negative 0.1mn mt to positive 0.7mn mt.
Alcoa reported a net loss of $303mn for the financial year 2019.