RUSAL Upbeat on Aluminum Metal in 2020

According to Rusal’s forecast, aluminium market could report a positive shift in 2020, as compared with stagnation reported in 2019.

SEATTLE (Scrap Monster): Leading aluminium producer Rusal shared upbeat outlook on the metal for 2020. According to the company, the global aluminium demand is expected to witness 1% surge during the year to top 66 million mt. The growth will be mainly driven by the boost in demand for the metal from global automotive industry.

Rusal noted that the jump in global manufacturing PMI to 50.4- the highest level since April last year must be considered as a sign of global economic rebound. However, the prospects of recovery may get impacted during the first half of the current year by spreading coronavirus infections in countries outside of China. The outbreak is feared to lower demand and boost China’s supply surplus, Rusal said.

ALSO READ:

Rusal's New Cast House Ready to Produce First Metal

Rusal Announces Strong Operating Results for Second Quarter 2019

Despite the above risks, auto industry is expected to uphold global aluminium demand in 2020, boosted by new models including electric vehicles which promise higher aluminium content. The Chinese aluminium consumption is expected to increase marginally by 1.5% to 37.3 million mt, whereas the demand outside of China is projected to surge higher significantly by nearly 11% from 2019 to 28.8 million mt in 2020.

According to Rusal’s forecast, aluminium market could report a positive shift in 2020, as compared with stagnation reported in 2019.

• Winnebago, WI County Solid Waste to Host Boat Wrap Recycling Event
• Plastics Industry Association Announces 2024 Plastic Sustainability Innovation Award Winners
• Millennium Recycling and Waste Robotics Collaborate to Achieve a 55% Increase in Recovery Rates
• Peterbilt Technician Institute Expands Technician Training to Denver, CO Campus