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EIU: Aluminum demand to grow by 3.5% in 2022

27 Sep 2021 15:28 reported by Joy Liu

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According to the monthly outlook released by the Economist Intelligence Unit (EIU), the global primary aluminum demand was expected to grow by 7% in 2021, showing that the strong GDP growth in the US and Asia.

With the fadeout of negative impact caused by the COVID-19 epidemic, the demand will continue growing in 2022 with an increase of 3.5%, and the global aluminum output will increase by 2.7% in 2022, compared to the estimated growth of 3.2% in 2021 and 3.5% in 2023.

China will be recorded with substantial growth, with an expected year-on-year increase of 4.8% this year. Outside of China, despite the sharp increase in prices, the global total aluminum production in 2021 will increase by 1% only.