Alcoa expects rising copper prices to push up demand for aluminum

Mr Klaus Kleinfeld CEO of Alcoa expected the rising copper price to push up the demand for aluminum.

Mr Kleinfeld pointed out that Chinese government’s efforts to reduce the power consumption was very likely to decline China’s aluminum production hence, China’s increasing demand for import aluminum may boosted the aluminum prices to soar. The strong demand for aluminum is beyond the expectation of traders and analysts.

According to Alcoa's prediction, the global aluminum consumption this year would increase further by 12% after the increase of 13% last year.