The aluminum market will be in short supply

HSBC experts in the metal outlook report say that the global aluminum market is expected to change oversupply to shortages this year. HSBC said that aluminum production outside of China will decline in 2014 and 2015.

China's current aluminum production accounts for 46 percent of world production. Ten years ago, China accounted for only 21 percent. Export of aluminum from Russia in January-February amounted to 399,000 tons for the amount of 786,400,000 US dollars.

In this regard, a deficit in the global aluminum market is expected to reach 144,000 tons in 2015. In addition, HSBC also predicts that the average aluminum price will be $ 1,887 per ton in 2014. Light metal production rose to 4.329 million tonnes, up 5 percent year on year, according to a report by the International Aluminum Institute last month.

The automotive industry is considered to have the greatest motivation for growth and new demands for the aluminum market. Ford plans to use more aluminum to make its F-150 lighter.

The President of the Aluminum Association, Jean Simard, said General Motors is committed to reducing the weight of its car models. At the same time, new US fuel efficiency standards will also stimulate demand for aluminum to reduce oil consumption.
In addition, aircraft manufacturers have also increased the consumption of aluminum and composite materials on their new models.