Dublin, Feb. 18, 2021 (GLOBE NEWSWIRE) -- ResearchAndMarkets.com published a new article on the aluminum industry "Aluminum Expected to Remain in Oversupply in 2021"
The second half of 2020 brought a recovery for aluminum as China reopened and vaccine rollouts began. Aluminum usage is expected to return to normal levels during 2021 if operations resume across various end user sectors. The automotive manufacturing industry is expected to reach pre COVID-19 levels during the third quarter of 2021 while the packaging sector is also forecast to continue to grow which may drive aluminum demand. President Biden will maintain a 10% tariff on aluminum imports from the United Arab Emirates. This is also expected to create opportunities for US producers of aluminum.
Analysts surveyed by Reuters expect a surplus of 1.8 million tons of aluminum, on average, in 2021. As a result, some analysts are predicting that prices will fall from their current level in 2021 as a result of negative pressure stemming from global oversupply. The industry has also seen increased demand for sustainably produced aluminum and this trend is expected to grow in importance in 2021. Recently BMW announced it has begun sourcing aluminum produced using solar energy for use in its vehicles from Emirates Global Aluminium while Apple Inc has made low carbon aluminum a key aspect of its commitment to be carbon free by 2030.
The article on ResearchAndMarkets.com contains a selection of reports on the aluminum industry such as:
Aluminum Sheet, Plate & Foils World Report & Database
Aluminium Flat Products - Global Market Outlook (2019-2027)
Aluminium Composite Panel Market Report: Trends, Forecast and Competitive Analysis
To see the full article and a list of related reports on the market, visit "Aluminum Expected to Remain in Oversupply in 2021"
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