SHANGHAI, Feb. 15 (SMM) –Rusal expects global aluminum market to swing into deficit in 2016 from 2015’s surplus, according to its recently released 2015 annual report.
The global aluminum giant sees global aluminum market in 1.2 million tonne deficit in 2016, reversing from 600,000 tonne surplus in 2015.
Rusal sold more aluminum than it produced in 2015. Its report showed its aluminum sales were 3.64 million tonnes in 2015, which not only beat its aluminum production (3.6 million tonnes), but also rose 3.2% from 2014.
Rusal expects global aluminum demand to grow 5.7% to 59.5 million tonnes in 2016, citing strong demand in North America, Europe and Asia.
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