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Global primary aluminum demand to grow 3% in 2015: Norsk Hydro

iconApr 30, 2015 15:50
Source:SMM
The global demand for primary aluminium is expected to grow 3% in 2015, said aluminium major Norsk Hydro

Author: Paul Ploumis 30 Apr 2015 Last updated at 02:41:30 GMT

CANTERBURY (Scrap Monster): The global demand for primary aluminium is expected to grow 3% in 2015, said aluminium major Norsk Hydro. Announcing the first quarterly results of 2015, the company noted that global demand for primary aluminium (ex-China) edged higher by 3% from 6.49 million mt in Q4 2014 to 6.72 million mt in Q1 2015. The global demand was up by nearly 1% when compared with 6.62 million mt recorded in Q1 2014.

The Chinese aluminium consumption declined by 0.9 million mt when compared with the previous quarter. However, when matched with Q1 2014, the consumption was up by 6%. Also, extrusion ingot, sheet ingot and primary foundry alloys saw increased demand from European countries. The European demand for flat rolled aluminium products witnessed sharp year-on-year rise of 11% during the quarter. The demand for rolled products was up from 1.03 million mt in Q4 last year to 1.14 million mt during Q1 this year. The extruded products demand in Europe was up 9% at 703,000 mt during the first quarter of the year.

The demand for rolled products was up 3% at 1.16 million mt in the North American region. This is when compared with the demand of 1.12 million mt in the US and Canada during Q4 last year. The demand for extruded products totaled 542,000 mt, up nearly 10% from 493,000 mt in Q4 2014.

According to Norsk Hydro, the demand for automotive products picked up significantly during the quarter. Also, aluminium beverage can market showed signs of improvements during the quarter. The beverage can market is expected to remain upbeat during rest of the year 2015. Demand from building and construction market too improved during Q1 this year.

Meantime, global primary aluminium production dropped by nearly 1% from 14.13 million mt in Q4 to 13.99 million mt in Q1 2015. The primary aluminium output excluding China too slipped lower by 1% to 6.44 million mt in Q1.
 

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