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Aluminum for Cars Seen Growing 6% This Year
Alcoa Inc. predicts demand for aluminum by U.S. carmakers will rise 6% this year as manufacturers strive to reduce vehicle weight and improve fuel efficiency.
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Alcoa Inc. predicts demand for aluminum by U.S. carmakers will rise 6% this year as manufacturers strive to reduce vehicle weight and improve fuel efficiency.
The company predicts worldwide capacity to make aluminum will increase by 5.1 million tons in 2015, with 86% of the expansion occurring in China. Bloomberg News estimates demand will surpass capacity by 38,000 tons this year, down sharply from a shortage of 948,000 tons in 2014.
Aluminum prices rose 3% last year and appear likely to reach nearly $2,100 per ton in 2015, according to analysts surveyed by Bloomberg.
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