W. Asia to see aluminium growth
|
|
|
|
Aluminium production in West Asia will outpace growth in other regions over the next five years as producers abandon higher-cost locations in the US and western Europe, a report by Fitch Ratings said. Existing primary aluminium production in the region is about 2 million tonnes and will probably double by 2011, Fitch said in an e-mailed report. Rising energy costs in the US and western Europe have forced some smelters to close or relocate to take advantage of cheaper power that can account for up to 30 per cent of the cost of making aluminium. “The world is experiencing a shrinkage in the number of power island’s able to support energy intensive industries such as aluminium production,” said Mr. Peter Archbold, director of the industrials team at Fitch, in the report.
|
|
|
|
Source : Business Line |
|
|
|
|
|
RecycleINme.com. All Rights Reserved
