Summit to address oversupply of aluminum
May 29, 2018
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There is a global glut of aluminum, and that will be top of the agenda when the aluminum associations’ top players gather in Montreal, Que. next week.
Association leaders from Canada, the United States, Europe and Japan will be holding an exceptional meeting of the aluminum industry from the G7 member countries June 3-4 in Montreal, Qué., in the hopes of finding a solution to tackle the overcapacity of aluminum worldwide, in time for the G7 summit being held days later in Charlevoix, Qué.
According to a statement from the Aluminum Association of Canada, “it is vital for the industry to initiate a top level process addressing overcapacity through policy changes by multilateral international institutions such as G7, G20 and the OECD.”
Bringing together the aluminum industry from the G7 countries, the Summit will help “define a governmental/multilateral institutional policy driven roadmap to address overcapacity, as well as governmental/multilateral institutional policies affecting the global aluminum industry.”
While addressing these long-term systemic and structural challenges to free and fair trade, the roadmap aims to cover both primary and semi-fabricated products and will be handed over to the G7 and G20 organizations in order to bring about the setting up of a Global Forum on Aluminum Overcapacity.
(Aluminum Association of Canada)