Alcoa forecasts bigger global aluminum deficit
Jul 09, 2014 | 06:11 PM
| Daniel Fitzgerald
NEW YORK Alcoa Inc. has increased its forecast global aluminum supply deficit for the year while maintaining bullish forecasts for aluminum end markets, including aerospace, automotive, and building and construction.
The Pittsburgh-based company is estimating a 2014 supply deficit of 930,000 tonnes, up 27.4 percent from a 730,000-tonne deficit estimated in the first quarter.
"The change in the aluminum projection is driven by a lower surplus in China reflecting curtailments that have been executed. In the rest of the world, most of the curtailments announced during the first half have been executed and therefore we are maintaining our view that the market is in a deficit of slightly over 1 million metric tons," Alcoa executive vice president and chief financial officer William F. Oplinger said July 8 during the companys second-quarter earnings conference call.....
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