Consumption in the hottest global aluminum market

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The global aluminum market consumption will increase by 3million tons

salaf talked about the short-term prospects of aluminum prices in his speech entitled "recent and long-term prospects of the aluminum market". He believed that although it is difficult to see strong signs of economic recovery in the short term, the growth of world industrial output in 2003-2004 will remain at about 4%. Based on this judgment, CRU believes that global aluminum demand will increase by 6.3% in 2003. Asia will be the main driver of consumption growth in 2003, while the weak economies of North America, Western Europe and Japan will limit demand growth in this region, and aluminum demand in India and Southeast Asia will maintain strong growth. China's demand growth is particularly striking. A large amount of investment in construction and infrastructure construction will drive consumption growth by more than 11%. Globally, the total world consumption in 2003 will increase from 24.8 million tons in 2002 to 26.4 million tons, an increase of 1.56 million tons. In 2004, the demand will maintain a corresponding growth, reaching 28million tons. In this way, global consumption will increase by about 3million tons in the next two years

however, salaf, a special co organizer of Jiangxi Ganfeng Lithium Industry Co., Ltd., Jiangxi Savi LDK photovoltaic silicon technology Co., Ltd., Jiangxi tungsten Holding Group Co., Ltd. and Jinchuan Group Co., Ltd., also pointed out that although the demand growth in the next two years is strong, I am afraid it is still difficult to dispel the aluminum plant's concern about the future price, mainly because 2.8 million tons of new production capacity will be put into operation in 2003 and 2004. With the completion of the expansion projects of BHP Billiton's hillside and mozal smelters, a large number of new capacity will appear in Africa. In Western Europe and India, production capacity is also expected to increase significantly. But so far, and in the near future, the growth of production capacity will be mainly concentrated in China. Cru expects that China will add 1.5 million tons of smelting capacity in the next two years

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