RE: anybody see this?Aluminum demand may double by 2020, led by China, Alumina says
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Alumina Ltd., which owns 40% of the world's biggest alumina producer, said demand for aluminum may double by 2020, driven by China's demand for buildings and autos.
China, the world's most populous nation, is using more of the light metal for construction as people move to cities, Alumina's Chief Executive Officer John Marlay said in an interview today in Sydney. Automakers are using more of the metal in their vehicles as they seek to cut greenhouse gas emissions and increase efficiency, he said.
“China is the powerhouse, with demand growth at 16%,” in the first half, Marlay said today. Industrial production growth “will continue through the rest of the decade,'' he said.
Alumina's partner Alcoa Inc. and rival Alcan Inc. have posted record profits this year as they benefit from rising prices and demand from China, Europe and the US Prices for aluminum, which drive alumina prices, rose to an 18-year high in May. Two tons of alumina makes a ton of aluminum.
Shares of Alumina fell as much as 16 cents, or 2,5%, to A$6.24 on the Australian Stock Exchange, and traded at A$6.29 at 11:06 a.m. Sydney time.
Alumina, which gets all its earnings from the Alcoa World Alumina & Chemicals joint venture with Alcoa, yesterday said first-half profit rose 59% as prices of the material used to make aluminum rose on demand from China.
Aluminum consumption may jump 59% by 2015 as China's demand for the metal more than doubles, BHP Billiton said April 5. Consumption of the metal is forecast to rise to 51-million tons a year from 32-million tons in 2005, the world's largest mining company said in slides presentation then.