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aluminium 2014 is a versatile metal alloy used in a wide variety of applications. Available in a range of forms and tempers, it is suitable for machining, welding, forming and heat treatment. It has low density, high specific modulus, and good thermal conductivity.
It is also a popular choice for airtight aircraft floors. It has high strength and is resistant to corrosion, making it ideal for use in aerospace applications.
The growth in demand for aluminium since 2000 has been particularly strong, outpacing global GDP and twice as fast as the average annual growth of finished steel during the same period. In addition to its exceptional properties, the metal is recyclable and environmentally friendly.
Demand for primary aluminum is expected to continue growing rapidly. In fact, it is forecast to be the fastest-growing material in the world over the next 20 years.
Supply and demand for aluminium are largely out of balance, with the resulting glut of inventory contributing to persistently higher prices. Smelters around the world have continued to produce at a pace far beyond what is required by market conditions; this has resulted in an ever-growing number of warehouses storing huge amounts of excess inventory.
The price of aluminium is expected to average $1,965 a tonne this year and $2,050 a tonne next year, according to the latest Reuters poll of base metals analysts. Analysts expect a widening supply deficit to support prices, while slower end-user demand and high energy costs in Europe are likely to weigh on the commodity.