- We see a global primary aluminium deficit in the quarter. This is driven by increasing deficit outside China. For the full year, we are maintaining our 4-6% annual aluminium demand growth outlook for 2017 and expect a largely balanced, global aluminium market," said the company's president and CEO, Svein Richard Brandtzaeg, in Hydro's second-quarter results announcement.
Global production of primary aluminum reached 15.8 million mt in Q2, up 9% on the year, while consumption was up 6% over the same period at 16.292 million mt, the company said in its quarterly report.
Hydro produced 523,000 mt of primary metal in Q2, up 1% from 518,000 mt in Q2 last year. The company said it has sold forward around 55% of its expected primary aluminum production for Q3 at a price of around $1,900/mt.
Source: London (Platts)
