Author: Paul Ploumis10 Oct 2014 Last updated at 08:20:29 GMT
WASHINGTON (Scrap Monster): As per the data received from the corporation, in the next year usage or the demand for aluminum is expected to be increased by 8 percent, as the US car companies are increasing their demand for light-weight metal and also the cut down in the aluminum production is also helping the process.
In the year 2015, the price of industrial aluminum will rise to 2,072 dollars per metric tonne, stated Joel Crane, an analyst in his report. The report also stated 3 percent increase in this year’s price of aluminum to, 1,893 dollars per metric tonne. According to the data collected from LME, this year’s average price of aluminum is reported to be 1,870 dollars per metric tonne. The company also raised its forecast for this year’s nickel price by 2 percent and the same for zinc also.
According to the data collected from LME, this year the price of aluminum, which is the core material used in every industry, starting from construction to home appliances, increased to 8.6 percent, as the demand for light-weight metal increased whereas, most of the smelters outside of china, halted their production. During the year, 2015, the global deficient of aluminum would narrow down to 31,000 tonnes, by the year, 2015, then followed to 26,000 tonnes by the year 2016, declined highly compared to the production of 62,000 tonnes in the year 2014.