Global – Alcoa projects a global aluminium deficit of approximately 775 000 tonnes for the current year as 5% demand growth outweighs 2.5% supply growth, according to the market outlook accompanying its results for the second quarter.
The company had previously forecasted a deficit in excess of 1 million tonnes based on a smaller supply increase of 2%.
As regards leading outlets for the light metal, Alcoa is anticipating a global automotive production hike of 1-4% this year, with the same growth bracket ventured for the North American market as the USA is ‘continuing to record strong sales, particularly in the light truck segment’.
In contrast, growth in the heavy-duty truck, trailer and bus market in Europe and China is expected to be offset by continued production declines in North America, prompting Alcoa to predict a decline in the world’s commercial transportation market of 1-4% for the current year.
Meanwhile, Alcoa projects that the worldwide packaging market will grow by 1-3% and building/construction by 4-6% this year.