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    Global aluminium production may grow 6% and consumption 4% in 2019, projects Dr. T.K. Chand

  • China Aluminium Network
  • Post Time: 2019/4/24
  • Click Amount: 220

    In an interview with The Economic Times, Nalco Chairman cum Managing Director Dr. Tapan Kumar Chand said that the company's aluminium production is estimated to grow this year by 6 per cent and consumption by 4 per cent worldwide. This shows production will remain ahead of consumption. However, the deficit of around 2 million tonnes last year in global markets will come down to 1 million tonne. Chand pointed out in some countries th aluminium demand is showing sluggishness, while in others, such as the Middle East, the metal demand is seeing a rise.

    While mentioning about the steady aluminium prices in the past one year, he said the prices have come down from about $2,259 per tonne in the first quarter of 2018-19 to $1,859 per tonne in the last quarter, $400 per tonne less.

    According to Dr. Chand, a steady and smooth aluminium markets are better for the aluminium industry. Up and downs in the market will keep the buyers around, leading to incremental growth to the aluminium. Also, affordable aluminium prices will boost consumption.

    Chand projects that the aluminium prices could be range-bound at the present and move between $1850 and $1950.

    Nalco’s cost of production is likely to come down, said Dr. Chand in the interview. In his opinion, the lowering price of caustic soda and other raw materials could perhaps be a reason for the drop in Nalco’s cost production. However, how the fuel and coal behave will also matter since much of the expenditure takes place with power itself costing around 40 per cent.

    Alumina prices have also moderated in Chand’s opinion. In the interview, he said the affordable alumina prices can bring scalability of its consumption because if the alumina prices are within the affordable limit of the smelters, then the smelter will continue to produce and there will be demand for alumina.

    He concluded by saying that the alumina prices will steadily continue incremental growth ranging between $375 per tonne and $425 per tonne.

    Source: www.alcircle.com
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