Aluminum Associations Around the World Want G20 Forum on Overcapacity

by on

Several aluminum associations around the world penned a joint letter in which they urged G20 leaders to hold a forum on global aluminum overcapacity.

Buying Aluminum in 2018? Download MetalMiner’s free annual price outlook

“In light of the conclusions reached last July at the G20 Summit in Hamburg, Germany, and the publication of the Global Forum on Steel Excess Capacity Report, we are writing to urge G20 leaders to apply this framework to a similar global forum on aluminium excess capacity,” the letter read. “We believe the Global Forum on Steel Excess Capacity is a useful model for tackling these persistent issues with a coordinated effort also for aluminium.”

The letter was signed by: Heidi Brock, president and CEO of The Aluminum Association; Milton Rego, executive president of the Aluminium Association of Brazil; Jean Simard, president and CEO, of The Aluminium Association of Canada; Gerd Götz, director-general of European Aluminium; and Yoshihisa Tabata; executive director of Japan Aluminium Association.

The associations called for a forum at the next G20 Summit in Buenos Aires to “endorse market economy principles and transparent methods to create an adequate level playing field in the global aluminium market.”

The letter emphasized global, collaborative action as being critical in tackling the issue of overcapacity, with specific reference to China. The U.S. last month imposed tariffs on aluminum imports of 10% (in addition to steel imports of 25%).

Want to see an Aluminum Price forecast? Take a free trial!

The G20 Summit is scheduled to take place Nov. 30- Dec. 1 in Buenos Aires, Argentina.

Leave a Comment

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.