Positive outlook for aluminium demnad to lend support to the prices of aluminium in 2015

The oversupply of aluminium will be compensated by the positive outlook for aluminium demand, lending a support for the prices of aluminium in the year 2015, as stated by Capital Economics’ recent study report.

The addition of plant capacities in China and Middle East has lead to an excess in the aluminium market. The total aluminium production in China grew by 6% in the year 2013. It is expected the growth in production will reach 10% in 2014 in China.

Capital Economics’ report says the increased supply of the metal will be compensated by rising demand for aluminium from the traditional consuming sectors. US also look very positive for aluminium. The rise in consumer goods production will keep the demand for aluminium high.

Moreover, the excess in supply will reduce in 2015 considerably as China has plans of cutting down the production at the non-performing smelters. Major aluminium producers have announced cut in the production. Alcoa, the US based company, will cut one-fifth of their capacity in the year 2015.

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