Global aluminum demand to grow 6.5 percent in 2015 - Rusal

The largest aluminum producer Rusal believes that the global aluminum industry will grow within a year. He also expects production growth outside of China to remain subdued. In addition, Asian aluminum prices are likely to remain under pressure due to increased exports of semi-finished products from China. By the way, in 2014, the global demand for aluminum increased by 7 percent, which was caused by an increase in demand in the automotive industry and construction.

Harsh cost control measures along with shutting down idle factories helped the company recover profits in 2014. Rusal cut production at seven plants during 2014 in an attempt to lift the global balance between supply and demand. The company reported a net income of $ 293 million in 2014 against a net loss in 2013. The fall in the ruble also plays an important role in boosting margins.

The company believes that industry concerns are not over yet. The fear of a "crisis of overproduction" still exists today. As a result, Rusal now has no intention of resuming production at the mothballed facilities.

According to Rusal's experts, global demand for aluminum will grow by another 6.5 percent in 2015 to 59 million tons. Chinese demand for aluminum is likely to rise by 9.5 percent, while outside China, demand for aluminum is expected to rise by 3.4 percent. Markets outside of China will face a supply deficit throughout 2015. At the same time, high growth rates of demand will be in the second half of this year.