Alcoa's aluminum shipments to rise in '20 on demand lift
Jan 16, 2020 16:20
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Alcoa Corporation, a global producer of bauxite, alumina and aluminum, expects its aluminum shipments to rise this year as it believes global aluminum demand will increase, according to the company’s latest Q4 and full-year 2019 results published on January 15 local time. But the Pennsylvania-headquartered firm expects a supply surplus too, it admitted.
In 2020, Alcoa’s aluminum shipments are expected to increase to 3-3.1 million metric tons – from its realised shipments total in 2019 of 2.9 million t – as it estimates global aluminum demand will inch up by 1.4-2.4% on year in 2020, as against the 0.2-0.4% decline seen in 2019,