Japanese metallurgical group Sumitomo Corp predicts that after the fall in the price of aluminum, its production capacity will be sharply reduced. The aluminum industry may face a shortage of winged metal in 2015 for the first time since 2006, the corporation said.
The price of aluminum on the London Metal Exchange has dropped more than 18 percent over the past year. Leading global producers including RUSAL, Rio Tinto and Alcoa have announced plans to cut aluminum production by 10-15 percent.
China also reported a reduction in capacity, while the country accounts for more than 50 percent of all world production.
Sumitomo Corp expects global aluminum demand in 2014 to exceed 390 thousand tonnes.
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