Rusal sees room for rebound after weak global aluminium demand in H1

Aluminium producer Rusal said global primary aluminium demand was down 6.6% to 30.3 million tonnes in the first half of 2020, with Covid-19 lockdowns halting most economies globally throughout the period.

Although it estimates there was a decrease in demand in most regions of the world, the producer sees room for a rebound in the second half of 2020, it said in its first-half earnings report published on Thursday August 13. But risk still looms due to the pandemic's potential for a second wave.

North America primary aluminium demand fell by 18.2% to 2.8 million tonnes in the first half, according to Rusal’s estimates. The company added there are bullish expectations for the transport and construction sectors despite the fall, which the company expects to be significantly smaller than previously...

Published

Justin Yang

August 13, 2020

12:47 GMT

London