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Southeast Asia to drive growth in aluminium, says Japan's UACJ
- China Aluminium Network
- Post Time: 2014/5/26
- Click Amount: 590
Southeast Asia will be a key driver of growth for purchases of rolled aluminium used in everything from beverage cans to cars, said Japan's UACJ Corp, the world's third-largest producer.
Thailand and Indonesia will be regional centres for rolled-aluminium manufacturing in Southeast Asia, Takayoshi Nakano, managing executive officer at Tokyo-based UACJ, said at a CRU aluminium conference in Hong Kong. A shift to lighter cars is key to global demand growth, Nakano said.
Aluminium content in vehicles is rising about 5 per cent a year and growth will accelerate in the next decade as drivers seek improved fuel economy and lower emissions, according to Barclays plc.
Global demand for aluminium auto-sheet metal will grow 10-fold from 2015 through 2025, Timothy Reyes, President of Alcoa Inc's materials management division, said at the conference.
"Our customers in Southeast Asia have begun to demand more high-grade products," Nakano said on the sidelines at the conference.
The company is building a plant in Thailand and has almost sold out new capacity there until 2018, he said.
Morgan Stanley estimates that supply will exceed demand through 2019 for primary aluminium, which is the feedstock for fabricators.
The metal in London has fallen 1.6 per cent since the start of the year and touched the lowest level since July 2009 in February this year.
Prices won't recover before 2016, Paul Williams, head of aluminium at CRU Group, said.
UACJ was formed on October 1 last year from a merger between Furukawa-Sky Aluminum Corp and Sumitomo Light Metal Industries Ltd.
The company's annual capacity exceeds 1 million tonnes, making it the third-largest rolled aluminium products maker after Alcoa and Novelis Inc, according to its website.
Indonesia's ban on exports of bauxite, an ore used to make aluminium, will probably last until the end of next year and has had a "significant impact" on production, John Hannagan, chairman of Rusal Australia, said.
Hannagan sees aluminium prices rebounding in the second half of this year.
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