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