Alcoa said on Wednesday that global aluminum demand is expected to increase by 6.5% this year, down from 9% in 2014. Alcoa also expects the global aluminum market to supply a surplus of 326,000 tons in 2015, which is quite different from its estimated shortfall of 38,000 tons in January.
In recent years, some aluminum producers have closed or idled high-cost production capacity, and Alcoa is one of them. But aluminum production in China, the world's largest supplier and consumer of aluminum, has continued to increase. According to the data, China's aluminum output increased by 9.1% last year.
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