Europe's largest aluminum producer Norsk Hydro announced that Sunndal primary aluminum smelter's capability will be increased by 30% due to the rising aluminum prices and the improved demand for aluminum.
The fundamentals of the aluminum market are improving, after years of oversupply. Aluminum market is expected to be in shortage.
Chinese aluminum producers shut down about 2 million tons of annual capacity, which is expected to make the surplus in China's aluminum market eased. Chinese aluminum production accounts for about 40% of global aluminum market.