03 JUNE 2016www.metal.com
Iran aluminium expansions to exacerbate already oversupplied Middle East market
Edited by : AL CIRCLE
1 min read
Iran is seeking to expand aluminium production, and this move will only get already oversupplied Middle East even worse, SunSirs reported.
Iran officials said the country will produce aluminium on a large scale to meet demand in domestic market and the Middle East. The country has already invested $2.7 billion in aluminium industry so far.
It was predicted that global aluminium demand will grow 5% in 2016 while production will rise just 2%, which will leave a supply deficit of 1.1 million tonnes. Aluminium consumption in the Middle East and North Africa will increase 5% in the first quarter this year, and Saudi Arabia, in particular, will see 12% growth.
One SOE in the United Arab Emirates increased aluminium output by 4% to 2.4 million tonnes last year. Another company, Aluminium Bahrain, planned to expand annual aluminium output by 540,000 tonnes to 1.5 million tonnes.
Iran officials said the country will produce aluminium on a large scale to meet demand in domestic market and the Middle East. The country has already invested $2.7 billion in aluminium industry so far.
It was predicted that global aluminium demand will grow 5% in 2016 while production will rise just 2%, which will leave a supply deficit of 1.1 million tonnes. Aluminium consumption in the Middle East and North Africa will increase 5% in the first quarter this year, and Saudi Arabia, in particular, will see 12% growth.
One SOE in the United Arab Emirates increased aluminium output by 4% to 2.4 million tonnes last year. Another company, Aluminium Bahrain, planned to expand annual aluminium output by 540,000 tonnes to 1.5 million tonnes.
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