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.

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