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Alcoa sees aluminum market remaining in deficit, ⚠️demand slowing
For full-year 2019, Alcoa continues to project a global aluminum deficit, ranging between 800 thousand and 1.2 million metric tons, down slightly from the previous quarter’s estimate of a deficit between 1.0 million and 1.4 million metric tons.
Global aluminum demand for full-year 2019 is now estimated to be lower year-over-year, ranging between negative 0.6 percent and 0.4 percent, compared to the previous quarter’s full-year estimate of global demand growth between 1.25 percent and 2.25 percent. The change is driven by weakening macroeconomic conditions, trade tensions between the US and China, and contracting manufacturing activity, especially in the global automotive sector.