Aluminum Price Seen Rising by Hydro as Deficit Deepens
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Aluminum prices are set to increase as producers refrain from adding capacity and demand rises, said Norsk Hydro ASA’s outgoing chief executive officer.
“There’s a completely new situation today compared to what it was just a few years ago, with a tremendous oversupply of aluminum,” Svein Richard Brandtzaeg said in an interview in London yesterday. “If you look at the situation now, there’s a clear increasing deficit, and if you look at supply-demand balance outside China today, the deficit is about 1 million tons of aluminum.”