Aluminum Demand to Rise 5.3% a Year, Output Increase Needed, Rio Projects

Bloomberg.com reports today that in anticipation of the increased need for aluminum ( 5.3%/ per year for the next decade), aluminum producers will need to increase global output by two-thirds, according to executives at Rio Tinto’s (NYSE:RIO) Alcan division.

The story is quoted as saying:

Unless new smelters are built by 2020, demand for the metal used in car parts and airplanes will outstrip supply by 27 million metric tons a year, Amir Mirchi, vice president of business development for the Middle East and North Africa at Rio Tinto Alcan, said, citing company forecasts. Global aluminum production and consumption this year will probably rise to about 40 million tons, he said.

For the full story, click here.