According to Australia and New Zealand Banking Group Limited (ANZ), China's stimulus measures boosted demand for aluminum, but the market situation is weakening although the outlook is optimistic.
Strategists at ANZ expected that China’s aluminum output will increase by 3.2% year on year in 2021, reaching 1.9 million tons; however, the output growth in other countries was relatively low, with an increase of 1.2% in 2021.
Besides, the global aluminum market was foreseen to have a surplus of 2.59 million tons this year.
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