Global aluminum demand to rise in ’13 on China projects: Rusal
Feb 08, 2013 | 12:51 PM
| Shivani Singh
SINGAPORE United Co. Rusal, the worlds largest aluminum producer, expects aluminum demand to rise 6 percent in 2013 on the back of Chinese infrastructure projects, the company said on Feb. 8.
"Rusal expects that the uncertainties seen in 2012, namely the current eurozone financial crisis and slowdown in Chinese growth, will lessen during 2013, thanks to the strong financial stimulus programs by central banks in key regions and growing data from China," it said.
Global primary aluminum demand is expected to total 50 million tonnes in 2013, an increase of 6 percent from 2012 levels, the Moscow-based company said.
China will remain the fastest growing primary aluminum market in 2013, registering 9.5-percent growth, followed by India at 6 percent, Asiaexcluding Chinaat 5.8 percent, North America at 5 percent, and Russia and the CIS at 4 percent, Rusal forecast.
Europe, meanwhile, is likely to see a 2-percent year-on-year drop in primary aluminum consumption in 2013.
"According to (a) WardsAuto forecast, Chinese car production is expected to exceed European production in 2013," Rusal said, adding that China is forecast to manufacture 19.6 million cars and light vehicles in 2013, an increase of 10 percent from last year.....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.