12 Oct 2011 14:41

Alcoa raises China aluminum demand forecast for 2011

Shanghai. October 12. INTERFAX-CHINA - Alcoa Inc., the largest U.S. aluminum producer, has raised its forecast for aluminum demand growth in China this year by two percentage points to 17 percent, the company said in quarterly results released Oct. 11.

Global aluminum demand, meanwhile, was predicted to grow at 12 percent next year, and to double by 2020, with rising demand in China offsetting declines in Europe and other regions.

The company reported a poor performance in the third quarter, which it attributed to weak demand, especially from Europe, due to fading hopes of a global economic recovery.

-OB