| What is the sound of one hand clapping? It’s supposed to be a question without an answer, a test posed by the master to the disciple in the Zen journey towards enlightenment. But it’s also as good a description as any of the current state of global aluminium production.
The one hand clapping is that of the non-China world, where producer discipline has tamed supply sufficiently to drag the market into a state of deficit. Such enlightenment has taken several years to achieve and marks only the very first step towards correcting the mistakes of the past. These still weigh heavily over the aluminium price in the form of millions of tonnes of accumulated surplus...............................................Full Article: Source
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