Aluminum on course for rise, deficit: analyst
Apr 11, 2014 | 03:59 PM
| Michael Cowden
CHICAGO Aluminum prices are set for a turnaround as production cuts and increased demand are poised to drive years of supply deficits, one industry analyst said.
Those deficitsprojected to grow to 3.8 million tonnes by 2017 from 900,000 tonnes in 2014will be spurred in large part by revved-up aluminum consumption in the automotive sector, Lloyd OCarroll, an analyst at Cleveland-based Northcoast Research Holdings LLC, said in a report.
"Aluminum has been the most hated space (both the commodity and equities) in recent years and bears abound. We believe that view is now out of date," OCarroll said, adding that his view was that of an "out-of-consensus bull."....
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