Alcoa Sees Aluminum Prices Rising in Next 10 Years, FT Reports

Global aluminum prices are likely to rise in the next 10 years as demand exceeds supply, according to Klaus Kleinfeld, the chief executive officer of Alcoa Inc., the Financial Times reported.

In an interview with the newspaper, Kleinfeld said supply constraints will restrict aluminum production and all the new plants that are scheduled to open in the next few years will be needed.

The company takes the view that global demand may grow by 6.5 percent a year, doubling total consumption by 2020, even if Chinese demand slows down, the FT said.