Wednesday, November 23, 2005
BHP Expects China To Keep Aluminum Market Tight
Dow Jones via Yahoo Asia.
Global resources group BHP Billiton (BHP) issued a bullish outlook for aluminum prices Wednesday based on China curtailing its energy-intensive smelting industry and further closures in Europe and North America.
Both aluminum and its main ingredient alumina are expected to end 2005 in deficit and remain tightly balanced over the medium term, BHP Billiton's aluminum president Alex Vanselow told a Sydney investor briefing Wednesday.
The outlook is based on 5% annual growth in demand for primary aluminum up to 2010, driven by industrialization in China and India, with Chinese demand for the metal set to rise to 16 million metric tons by 2015 from 7 million tons this year.
Global resources group BHP Billiton (BHP) issued a bullish outlook for aluminum prices Wednesday based on China curtailing its energy-intensive smelting industry and further closures in Europe and North America.
Both aluminum and its main ingredient alumina are expected to end 2005 in deficit and remain tightly balanced over the medium term, BHP Billiton's aluminum president Alex Vanselow told a Sydney investor briefing Wednesday.
The outlook is based on 5% annual growth in demand for primary aluminum up to 2010, driven by industrialization in China and India, with Chinese demand for the metal set to rise to 16 million metric tons by 2015 from 7 million tons this year.
