It was reported that because of the trade war between China and United States, the biggest two aluminum consumption countries, Alcoa thought that the trade war will reduce the aluminum demand in China and affect the world aluminum market.

Alcoa estimated the global aluminum demand will increase by 3.75%-4.75%, compared to the previous estimate at 4.25%-5.25%. The global aluminum supply gap was predicted to be 1-1.4 million tons in 2018, compared to the previous estimate at 1.1-1.5 million tons. The global alumina supply gap was expected to be 400,000 tons-1.2 million tons, compared to the previous forecast at 200,000 tons-1 million tons.