Japan plans to increase its purchase of aluminum in the 1st quarter of 2015

It is reported that during the first three months of 2015, the price of aluminum on the London Metal Exchange will rise starting in January, but it seems that Japanese buyers are not embarrassed and they want to increase volumes, although this news is classified as confidential and the source declined to identify himself ...

At the same time, the largest aluminum producers RUSAL and Alcoa have cut production capacities at their plants. It is predicted that in 1015 the demand for aluminum should grow by about 387 thousand tons, and in a year after that the demand for aluminum will exceed production by 872 tons. These predictions were made by the trading company, Marubeni Corp, in a report that was released last week.

Aluminum companies in Japan increased their purchases of aluminum in 2014 through supply contracts with aluminum producers, hoping that Prime Minister Abe's economic policies could rejuvenate the country's economy. The bulk of the country's aluminum imports climbed 15 percent to 1.7 million tonnes in 10 months in 2014, according to data compiled by the Japan Aluminum Association.

The report also says that global aluminum consumption rose 5.6 percent over the period compared to last year. At the same time, global aluminum production in 2014 increased by 3.5 percent and will continue to rise in 2015, but demand will grow at a faster pace, which will lead to an increase in the deficit.