Global aluminum demand growth is projected to decline from 4% in 2018 to 2% to 3% in 2019. However, the primary aluminum market expects to report a deficit over the next year, despite concerns about a further downturn in the global economy. This is due to the expansion of the scope of application of rolled aluminum. On the Russian market aluminum sheets can be purchased from the Metallurgical Corporation along with other rolled metal products.
One of the largest aluminum companies in the world, Norsk Hydro, headquartered in Oslo, predicts that aluminum demand growth is likely to continue to slow in 2019. However, Norsk Hydro expects the market to be in short supply. In addition, tariffs and trade wars will affect the global flow of metal. Aluminum sheet imports continue to cause material problems for US producers
It should be noted that the latest market data released by the World Bureau of Metals Statistics (WBMS) indicates that the global primary market recorded a deficit of 206 thousand tons during the first eight months of 2018. The market reported a deficit of 1,175,000 tonnes throughout 2017.
According to the company, global growth in primary aluminum demand is expected to decline from 4% in 2018 to 2-3% in 2019. In the long term, the company has maintained its previous estimates of demand growth, projecting an annual growth of 2-3% in aluminum demand over the next decade or so. It is assumed that the demand for semi-finished products will grow by 3% per year. In addition, the company expects refining to grow by 3-4% over the same period.
China accounted for nearly 40% of total US imports of aluminum sheet in 2017, according to the data. The country was the single largest supplier of these products to the United States. From 2015 to 2017, imports from China increased by 32%. Over the past decade, imports have grown by more than 730%. It should be noted that the volume of imports has dropped significantly after preliminary determinations by the Department of Commerce in April and June this year.
