Alcoa raises 2014 global aluminum deficit estimate to 930,000 tonnes

NEW YORK, July 8 Tue Jul 8, 2014 5:38pm EDT

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NEW YORK, July 8 (Reuters) - Alcoa Inc has increased its estimate for the global aluminum market deficit this year due to capacity cuts in China, the world's No. 1 producer, a senior executive said on Tuesday in a conference call to discuss second-quarter earnings.

The U.S. aluminum producer expects demand to outpace supply by 930,000 tonnes this year, up from its previous estimate of 730,000 tonnes, William Oplinger, Executive Vice President and Chief Financial Officer, said.

Oversupply in alumina, a key raw material for making aluminum, will fall to an estimated 800,000 tonnes from 2.2 million tonnes expected previously due to lower output from India and higher imports from China, he said. (Reporting by Josephine Mason; Editing by Chris Reese)

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Comments (6)
Gumby wrote:
The only thing Wall street cannot stand for is rising aluminium prices, so Wall Street is doing all they can to get China to flood the warehouses with unwanted aluminium! The enviromentalists are looking the other way as China now uses more than four times as much coal as we do here in America! Carbon dioxide is passing 4% already. Who is serious ? Me !! only! Our government is getting suckered into those phony warehouse issues that was never needed in the first place at Wall Street’s own peck. Who wouldnt want to get hands on price depressed aluminium, yet they are well content to let the warehouse owners take care of the excess inventories for them? It is price manipulation on the international scale which is so insane! We have too much aluminium and too much global climate warming today because of that! You satisfied , then n’ now? Huh?

Jul 08, 2014 6:24pm EDT  --  Report as abuse
Gumby wrote:
The only thing Wall street cannot stand for is rising aluminium prices, so Wall Street is doing all they can to get China to flood the warehouses with unwanted aluminium! The enviromentalists are looking the other way as China now uses more than four times as much coal as we do here in America! Carbon dioxide is passing 4% already. Who is serious ? Me !! only! Our government is getting suckered into those phony warehouse issues that was never needed in the first place at Wall Street’s own peck. Who wouldnt want to get hands on price depressed aluminium, yet they are well content to let the warehouse owners take care of the excess inventories for them? It is price manipulation on the international scale which is so insane! We have too much aluminium and too much global climate warming today because of that! You satisfied ?

Jul 08, 2014 6:26pm EDT  --  Report as abuse
Gumby wrote:
The only thing Wall street cannot stand for is rising aluminium prices, so Wall Street is doing all they can to get China to flood the warehouses with unwanted aluminium! The enviromentalists are looking the other way as China now uses more than four times as much coal as we do here in America! Carbon dioxide is passing 4% already. Who is serious ? Me !! only! Our government is getting suckered into those phony warehouse rule change
schemes that was never needed in the first place at Wall Street’s own peck. Who wouldnt want to get hands on price depressed aluminium, yet they are well content to let the warehouse owners take care of the excess inventories for them? It is price manipulation on the international scale which is so insane! We have too much aluminium and too much global climate warming today because of that! You satisfied , then n’ now? Huh?

Jul 08, 2014 6:27pm EDT  --  Report as abuse
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