China Aluminium Network
Aluminum Demand May Gain 10% Over Next 5 Years, Novelis Says
Edited by : AL CIRCLE
2 min read
Aluminum demand may climb by 8 percent to 10 percent annually over the next three to five years on buying from Asia, led by China, and as more of the metal is used in cars and cans, according to Novelis Inc.
“We are seeing some demand increases in automobiles and we continue to see year over year increases in terms of consumer electronics, cans and transportation and construction alike,” Philip Martens, chief executive officer of the company that turns aluminum into products for Coca-Cola Co. and Ford Motor Co., said in an interview today in Seoul.
“If you go out for five years, we see a fantastic outlook for aluminum,” Martens said. Novelis will expand its rolling capacity by 33 percent by 2014 or 2015 and remains committed to the plan, he said.
Aluminum will have the biggest annual demand increase among industrial metals through 2015 as its surplus turns to a shortage, according to researcher CRU. Consumption will outpace supply in 2015 as demand grows an average 7.6 percent a year, Paul Robinson, CRU non-ferrous metals group manager, said Oct. 3.
Novelis expects Asia to become its biggest market by about 2017, overtaking North America and Europe, Martens said. It will ultimately seek rolling operations in China, he said.
“We are seeing some demand increases in automobiles and we continue to see year over year increases in terms of consumer electronics, cans and transportation and construction alike,” Philip Martens, chief executive officer of the company that turns aluminum into products for Coca-Cola Co. and Ford Motor Co., said in an interview today in Seoul.
“If you go out for five years, we see a fantastic outlook for aluminum,” Martens said. Novelis will expand its rolling capacity by 33 percent by 2014 or 2015 and remains committed to the plan, he said.
Aluminum will have the biggest annual demand increase among industrial metals through 2015 as its surplus turns to a shortage, according to researcher CRU. Consumption will outpace supply in 2015 as demand grows an average 7.6 percent a year, Paul Robinson, CRU non-ferrous metals group manager, said Oct. 3.
Novelis expects Asia to become its biggest market by about 2017, overtaking North America and Europe, Martens said. It will ultimately seek rolling operations in China, he said.
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