In London for British goods institute (CRU) world conference on aluminium participants said, despite the large stockpiles of the metal, but aluminum demand remains strong. Increase with aluminum in the automotive and aerospace applications, in the next few years, aluminium demand will increase further, and will more than steel and copper in light vehicles and product applications.
Led by China, the global aluminum consumption is expected to continue to grow at a rate of 6% for three to four years. Because of the depressed prices, some aluminium producers to cut back on production, thus growing demand can help to cut up to 12 million tonnes of global stocks.
Due to legislation requiring increased fuel efficiency and reduce exhaust emissions, applications of aluminum in the automobile and the airplane rising prosperity.
At present, the global annual demand is about 350000 tons of aluminum car body. Love wound aluminium company now is preparing to invest $200 million to expand production capacity to meet demand.
Alcoa inc. plans to Iowa, a new auto aluminum factory to invest $300 million, and to a similar factory invested $275 million in Tennessee, for North America, the demand for aluminium increased by 2015 four times.
At the same time, the aircraft industry each year demand of 360000 tons of aluminium extrusion products. Because the manufacturers are also seeking to reduce weight, improve energy efficiency, this demand is expected to maintain 5% annual growth rate over the next five years.
Some emerging countries in the urbanization process in aluminum demand. In India, the demand of metal at a rate of about 11% to 11% a year growth. The country's economic ZengChangNian rate of 6% to 6%, but aluminum consumption growth rate is higher than this value.
Hindalco is preparing to invest $9 billion to improve alumina production, and the original triple the annual capacity to 1.8 million m tonnes of aluminium, and this expansion is expected to be completed in 2015. The expansion is also involved in the new mill capacity to meet demand from energy, transportation and packaging industries.
India diversified industrial group, said a top aluminium demand will grow faster than that of copper.