Aluminium ‘in good shape’ for 2017, says Rusal

Global – For the current year, ‘€˜we expect the aluminium market to remain in a good shape with demand increasing by 5% and the global market deficit widening to 1.1 million tonnes (from 700 000 tonnes in 2016)’€™, states Rusal’€™s ceo Vladislav Soloviev in releasing the Russian light metal producer’€™s latest results.

Global demand for aluminium is expected to reach 62.7 million tonnes this year, with China thought likely to record growth of 6.7% to 33.5 million tonnes while the rest of the world is forecast to register an increase of 3.3% to 29.2 million tonnes – ‘driven by growth in EMEA (Europe, the Middle East and Africa), North America and Asian economies’.

Meanwhile, global aluminium supply will climb 4.3% to 61.6 million tonnes this year ‘and will be affected by a tight supply in China’ resulting from the government’s new anti-pollution measures, Rusal predicts.

Chinese supply is anticipated to increase by 6% to 34.3 million tonnes while ex-China growth is put at 2.4% to 27.3 million tonnes. Global aluminium demand jumped 5.5% to 59.7 million tonnes in 2016 on the back of 7.6% growth in China and 3.4% elsewhere.

Total light metal supply advanced 3.7% to 59 million tonnes.