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Europe aluminium product demand healthy -Sucden

Thursday, Jul 15, 2010
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* Return to good order books


* Autos, aerospace, extrusions main consumers


LONDON, July 14 (Reuters) - Demand for aluminium products for use by the auto and aerospace industries in Europe is healthy, Steve Hardcastle, head of client services at Sucden Financial said on Wednesday.


"Consumption outside China will rise by around 6.5-7.0 percent," Hardcastle said at a briefing.


"European semis manufacturers ...are reporting a return to good order books, not only for spot sales for inventory rebuilding, but also for forward fixed price delivery. The main consumption areas are the auto industry, aerospace and extrusions."


Extrusions are long aluminium products often used in the construction industry.


Global auto sales tumbled 13 percent last year. Auto makers and their suppliers have benefited this year from government support. [ID:nCARS1]


Latest news came from Germany's BMW (BMWG.DE: Quote), which recently raised its 2010 pretax profit and sales outlook, citing better-than-expected earnings at its automotive business and buoyant luxury car markets around the world.

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