Alcoa sees almost 8% global growth

By Staff -- Purchasing, 5/3/2007

Alain Belda, chairman and CEO of Pittsburgh-based Alcoa, the world's largest aluminum producer, sees total world consumption growth this year of 7.7% at 37.16 million metric tons. In a conference call, an upbeat Belda tells Wall Street analysts: "Markets in general remain robust. Europe is stronger than the U.S., but China remains at a torrid pace." He forecasts that China's aluminum consumption will continue at a strong 23% growth rate this year. His 2007 forecast sees North America showing flat consumption—due mostly to the downturn in automobile, light truck and heavy-duty truck manufacturing. Elsewhere, Belda projects Europe with 3% growth in aluminum use, Latin American expansion at 4.4%, Asian growth (excluding China) at 4.5% and Russian and Eastern Europe expansion at 4.7%.