global demand hit an all-time record

(Kitco News) -- The global aluminum supply/demand deficit of 4.9 million annualized tons in June was the largest gap since November 2010, says Harbor Intelligence. Global demand hit an all-time record of 49.5 million annualized tons, Harbor says. Chinese consumption was strong. ?Nevertheless, the most relevant data was the fresh record high in demand from the rest of the world, which saw a seasonally adjusted increase of 10.3% m/m to an annualized pace of 28.63 million tons. This is 6% above the previous all-time high of June 2008 and up 5.5% y/y.? Global aluminum output also hit a record at 44.55 million annualized tons, Harbor says. Nevertheless, the demand was strong enough to result in a widening deficit.



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