4/20/2021 11:42:13 AM GMT
|
By FXStreet Insights Team
Daily aluminium production dropped back a bit in March. But with prices currently at multi-year highs, and only very piecemeal restrictions on output in China, economists at Capital Economics doubt it will be long before daily aluminium production starts to creep higher again.
Outside of China, the decline in daily production is a departure from the trend increase since the middle of last year
“According to the International Aluminium Institute (IAI), global aluminium production grew by 5.0% YoY in March. However, given the virus-related disruption to output last year, we think the monthly change in daily production offers a better steer on the underlying trend. Here, we find that daily production in March both in and outside of China was a little lower than in February.”