Long-term Bullish On The Aluminum Market

Mar 20, 2020

Pina Pescatore believes that the most important thing for the aluminum industry is to look at the long term. In her view, according to the positioning of aluminum, future demand is quite strong. Aluminum is the most competitive metal, especially the global control of carbon emissions. In an interview with this newspaper, Jean Simard, chairman of the Canadian Aluminum Association, further predicted that global aluminum demand is expected to double in the next 10 years.

According to Rio Tinto ’s previous forecasts, the global aluminum supply in 2015 will rise to 35 million tons from the estimated 32 million tons in 2005 and 45 million tons in 2011. At the same time, between 2010 and 2015, the compound annual growth rate of global aluminum demand is expected to reach 5.5%.

Supported by this judgment, Rio Tinto Alcoa increased the expansion of upstream business. At present, Rio Tinto Alcoa is modernizing the ISAL electrolytic aluminum plant in Iceland to increase production by 20%, and is installing leading casting facilities to produce value-added aluminum rods. Elsewhere in Canada, the current capacity of the electrolytic aluminum plant of the Kitimat modernization project will be increased by more than 48%. After transformation, this project will become the lowest cost electrolytic aluminum plant in the world.