Aluminum is now trading below its resistance of 95cts.
Look for a low to buy Aluminum, it is weak now as many players are thinking that there is goin to be a surplus in Aluminum.
And they cite the LME storage of 4.6mln tons as excessive.
Demand for Aluminum last year was 34mln tons.
This was what ppl predicted the Aluminum industry demand 5 years ago.
"BEIJING - China's demand for aluminum products will reach 6.78 million tons in 2005, and continue to rise to 7.66 million tons in 2006, Vice-Chairman and Secretary General of China Nonferrous Metals Industry Association Pan Jiazhu noted at a recent international aluminum conference in the US.
Over the long term, demand will hit 8.43 million tons, 10 million tons and 14.3 million tons by the year 2007, 2009 and 2020 respectively, predicted Pan, adding that the growth rate of"
"China's use of the metal, excluding metal produced from scrap, is forecast to rise to 16 million metric tons by 2015, from 7 million tons this year, Melbourne-based BHP said today." (2006 article)
Now let's take a look what was China's aluminum demand in 2009. It's a whopping 13.4mln tons, and this was a 5% drop from 2008 due to the weak economy.
this year, "EXPERTS" we dun know if they are really experts since they keep underestimating... Experts are predicting that China demand will be 16mln (lowest estimates) while others are expecting 17.5mln (CHALCO prediction).
BHP billiton thought this will only happen in 2015... we are 5 years earlier. Imagine what the demand would be in 2015? I am guessing 30mln.
THere's going to be a shortage of aluminum in 2020, new development are slowing, ALCOA has agreed to buildd another smelter.
I think Aluminum is a good play now. Buy Aluminum and Aluminum related companies. ALCOA AA, RIO TINTO, BHP, CENX
Look for a low to buy Aluminum, it is weak now as many players are thinking that there is goin to be a surplus in Aluminum.
And they cite the LME storage of 4.6mln tons as excessive.
Demand for Aluminum last year was 34mln tons.
This was what ppl predicted the Aluminum industry demand 5 years ago.
"BEIJING - China's demand for aluminum products will reach 6.78 million tons in 2005, and continue to rise to 7.66 million tons in 2006, Vice-Chairman and Secretary General of China Nonferrous Metals Industry Association Pan Jiazhu noted at a recent international aluminum conference in the US.
Over the long term, demand will hit 8.43 million tons, 10 million tons and 14.3 million tons by the year 2007, 2009 and 2020 respectively, predicted Pan, adding that the growth rate of"
"China's use of the metal, excluding metal produced from scrap, is forecast to rise to 16 million metric tons by 2015, from 7 million tons this year, Melbourne-based BHP said today." (2006 article)
Now let's take a look what was China's aluminum demand in 2009. It's a whopping 13.4mln tons, and this was a 5% drop from 2008 due to the weak economy.
this year, "EXPERTS" we dun know if they are really experts since they keep underestimating... Experts are predicting that China demand will be 16mln (lowest estimates) while others are expecting 17.5mln (CHALCO prediction).
BHP billiton thought this will only happen in 2015... we are 5 years earlier. Imagine what the demand would be in 2015? I am guessing 30mln.
THere's going to be a shortage of aluminum in 2020, new development are slowing, ALCOA has agreed to buildd another smelter.
I think Aluminum is a good play now. Buy Aluminum and Aluminum related companies. ALCOA AA, RIO TINTO, BHP, CENX