ABSTRACT
At the end of 1920s, the first signs of severe overproduction brought about concerns in the global market of this metal, while investments planned during the mid-1920s were still progressing. During this period of economic downturn, firms showed a certain creativity in developing new strategies and in reforming their structures. On the one hand, ALCOA created a new Canadian company to increase its international competitiveness. On the other hand, Europeans attempted a reform of their cartel to meet this competition. This chapter shows, at the end of the 1930s, before settling a new global cartel, the two sides of the world aluminium industry competed for additional outlets in a context of economic slump. A first agreement was found in the Japanese market in 1930, which opened the door to negotiation for a new global agreement.
