Aluminum deficiency on the global market will be 1.5 million tons, the deputy head of Romal company Roman Andryushin said. His words leads Kommersant.
He also predicted that next year the deficit will increase, since all economies declare the growth of demand for this metal. Andryushin is confident that the largest buyer of Aluminum in the world China will continue to import metal in essential volumes.
According to him, “RUSAL” in this year will put 300-400 thousand tons of aluminum on the PRC market, and the following plans to significantly increase exports. The company intends to increase aluminum production from 3.8 tons in 2020 to 4.3 million tons in 2022.
In October, “Rusal” shares broke the record, they rose to 75.89 rubles per piece. It happened on the background of the news about the rise in price of aluminum. For the first time since July 2008, the cost of metal exceeded 3 thousand dollars per ton. Aluminum prices are growing from the beginning of this year against the background of growing demand and due to the actions of China to reduce production for the decline in harmful emissions.
In early September, the state coup in Guinea became another reason for the growth of the value of aluminum. The African country accounts for up to a quarter of world bouxite production – raw materials for the production of aluminum.