16 FEBRUARY 2014AlCircle.com
Norsk Hydro CEO expects aluminium price to go high in 2014
Edited by : AL CIRCLE
1 min read
Svein Richard Brandtzaeg , Chief executive of Norsk Hydro, said to Reuters that aluminium’s overall price, including delivery premium paid to producers, is expected to rise in the year 2014 as demand of the metal growth outpaces production.
"Demand will exceed production, so there is reason to believe we'll see an improvement in the all-in metal price," Brandtzaeg said. "It's difficult to say if this will come as part of the market price or on the ingot premium."
Currently the price of aluminium trades at multi-year lows above $1,700 per tonne while there is a rise in the price of delivery premiums. It is expected that the prices will be t $450 dollars per tonne in the United States and at $350 in the EU during 2014 end, Hydro said.
"Demand will exceed production, so there is reason to believe we'll see an improvement in the all-in metal price," Brandtzaeg said. "It's difficult to say if this will come as part of the market price or on the ingot premium."
Currently the price of aluminium trades at multi-year lows above $1,700 per tonne while there is a rise in the price of delivery premiums. It is expected that the prices will be t $450 dollars per tonne in the United States and at $350 in the EU during 2014 end, Hydro said.
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