Aluminum Demand May Gain 10% Over Next 5 Years, Novelis Says

Bloomberg reported that according to Novelis Inc., Aluminum demand may climb by 8 percent to 10 percent annually over the next three to five years.

As quoted in the market news:

Aluminum will have the biggest annual demand increase among industrial metals through 2015 as its surplus turns to a shortage, according to researcher CRU. Consumption will outpace supply in 2015 as demand grows an average 7.6 percent a year, Paul Robinson, CRU non-ferrous metals group manager, said Oct. 3.

“We are seeing some demand increases in automobiles and we continue to see year over year increases in terms of consumer electronics, cans and transportation and construction alike,” Philip Martens, chief executive officer of the company that turns aluminum into products for Coca-Cola Co. and Ford Motor Co., said in an interview today in Seoul. Prices may be “moderate” in a range between $2,300 and $2,500 a metric ton over the next six months, Martens said.

Click here to read the full Bloomberg report