According to revised outlook by Sumitomo Corporation, world primary aluminum ingot demand will increase by 9.5% to 41.31 million tonnes in 2008 from 2007.
Sumitomo said that the supply will increase by 9.3% to 41.695 million tonnes. The supply exceeds demand for 2 years in a row but the oversupply will be 385,000 tonnes, which is 800,000 tonnes less than original outlook.
Sumitomo expects the 3-month future price at London Metal Exchange could be USD 2,800 to USD 3,700 per tonne for second half of the yea
