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China Could Fuel Surge In Aluminum Demand

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truck_2 June 23, 2010 (Chinavestor) Global aluminum demand could double by 2020, fueled by robust Chinese demand, according to the Japan Aluminium Association. A supply shortage of 8 million metric tons could materialize as a result of increased Chinese demand, the association said.

Consumption is expected to rise to 74 million tons in 2020 from 38 million tons this year while global capacity is expected to jump 47% to 66 million tons, the reported noted. Demand in China, the world’s largest consumer of the metal used for cars and houses, is forecast at 44 million tons in 2020, almost tripling from 16 million tons this year, fueled by increased production of automobiles, according to Bloomberg News.

The report said Japanese aluminum demand is expected to rise 26% by 2020. Japan is Asia's largest aluminum importer and is looking to make investments overseas to secure more supply.

The association said the aluminum market could sport a deficit by 2015 as rising energy prices lead to scaled back production.



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