According to reports from Bloomberg, the outbreak of coronavirus in early 2020 aggravated the low demand for aluminum in the world. Due to this, many aluminum mills have no choice but to reduce production, and most aluminum mills were operating without profits.
Currently, many industries, including aircraft and automotive industries in several regions, were impacted by the epidemic and decided to shut down or cut production amid the severe situation.
Bloomberg’s analysis showed that global primary aluminum demand in late March dropped by 6% year on year. Moreover, the global idled aluminum production capacity was expected to reach 4.2 million tons per year by the third quarter of this year, and the figure will even go up to 10 million tons by 2025.
Such the decline will last for an unsure period but it will surely cause some impacts on the aluminum industry.
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