Aluminum to beat expectations: Alcoa
Apr 09, 2013 | 05:06 PM
| Michael Cowden
ISLE OF PALMS, S.C. Bolstered by automotive and aerospace demand, Alcoa Inc. expects aluminum demand to grow 6.5 percent over the next decade, outstripping global gross domestic product gains, according to executive vice president and chief financial officer William Oplinger.
In fact, Pittsburgh-based Alcoa thinks supply and demand will be tighter than the 535,000-tonne surplus the company estimated just three months ago, Oplinger said April 9 at the Aluminum Associations spring meeting in Isle of Palms, S.C.
While Oplinger conceded that such a projection was "going against the tide," he insisted that it makes sense, assuming 7-percent demand growth in 2013; China taking capacity offline, which should benefit upstream aluminum producers elsewhere; and strong automotive and aerospace demand.....
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