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Aluminium: India counts on the time after the crisis
| | Regardless of the current economic crisis, India sees an immense growth potential for the recycling of aluminium. By 2015 the demand for secondary aluminium is likely to increase to just under 900,000 tons, forecasted Vikram Jhunjhnuwala, the Chief Executive Officer of the Indian Century Aluminium Corporation, at the International Aluminium Recycling Congress in Berlin.
Last year approximately 360,000 tons were required. The major part of the future demand will come from the automotive industry, which will be requiring approximately 400,000 tons of secondary aluminium by 2015. India is still highly dependent on scrap imports. About 95 per cent of the required scrap metal had to be imported, Jhunjhunwala explained. It will take at least another 20 years before his country is able to supply its own scrap.
Photo: Bilderbox
India is reliant on importing metal scrap
Meanwhile in Europe the current economic crisis continues to have an impact. Due to the dependence on the automotive industry the refiners in particular are affected, said Günter Kirchner, the Secretary General of the Organisation of European Aluminium Refiners and Remelters (OEA). Some companies have curtailed production by more than 35 per cent.
The prices for standard alloys have fallen by approximately 48 per cent within one year. It is, however, still uncertain as to when the scrap market will recover. “The lowest point has been reached,” Kirchner said. “The price downturn seems to have stopped.” Despite this fact, companies are not currently making any profit. The refiners will not be able to bear this burden for much longer. The first companies have already gone into administration.
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