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Supply Analysis

机译:供应分析

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摘要

Producers remain aggressive with production cuts and shed as much as 770,000 tonnes in February alone. This is in effect the second or even third round of cutbacks, with North America and Europe leading the way. The figures point to a clear shrinking of the market, which produced 3% less metal than in January 2008. While 3% does not seem to be a large amount, the aluminium market has had years of very high growth rates. The supply outlook for the coming years is also being compromised, as capex cutbacks cause delays and cancellations of new smelting capacity. Decisions made today will impact future capacity, and MBR envisages that when demand recovers the market will become tighter.
机译:生产商对减产仍然保持积极态度,仅2月份就减少了77万吨。实际上,这是第二轮甚至第三轮削减,北美和欧洲处于领先地位。这些数字表明市场明显萎缩,金属产量比2008年1月减少了3%。虽然3%的数量似乎并不大,但铝市场的增长率却很高。未来几年的供应前景也受到影响,因为资本支出削减导致新冶炼能力的延迟和取消。今天做出的决定将影响未来的产能,MBR预计,当需求恢复时,市场将变得更加紧张。

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