Aluminum market has a bright prospect

With the recovery of global economy, it is expected aluminum demand will rise 10% in 2010.

Rusal and Alcoa recently released respectively the report of quarterly financial results in 2009 and 2010. Alcoa expected there would be surplus of supply in aluminum market in 2010, but compared with 2009, it was easy to be controlled. Alcoa has expected that aluminum demand in 2010 will rise by 18%, and other Asian markets will grow 6%. Rusal expressed Indian had been a key market for aluminum demand. Driven by urbanization and industrialization, India’s demand on aluminum will increase by 10%,though it has high
Aluminum stocks. Rusal and Alcoa both expressed aluminum prices in 2010 would rise. According to the evaluation from Alcoa’s major customers: automobiles and heavy trucks develop rapidly while the sales of aviation material and beverage cans will continue to be flat, but the production of commercial construction and heavy fuel machines is expected to drop. Aluminum prices fell from $2300/per ton to $1950/per ton in January,2009. However, now it has surpassed the price in January,2009. The transaction price in 2010 is 60% higher than 2009. In March, the interest of National Aluminum Co.,Ltd rose 105-200% compared with the same period of 2009. It was expected the net interest of HindacoLtd would increase 80%-100%. Another multi nonferrous metal company---SterliteIndustriesLtd expected its net interest would rise 130-200% compared with the same period of last year. The increase of net interest of these companies was mainly due to the rising aluminum price.

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