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Aluminum Seen Winning Ground Over Steel, Copper

Aluminum demand is strong despite record-high inventories of the metal, and will be further buoyed in coming years by increased usage in the automotive and aerospace industries, where it is winning ground over steel and copper in a bid to lightweight vehicles and products, participants at CRU's World Aluminum congress in London said."Demand's a great story," said Tim Reyes, president, Alcoa Materials Management, part of aluminum producer Alcoa Inc. (AA), which is investing heavily in expanding its rolling and processing facilities, even while considering cuts to its primary metal production capacity amid global oversupply. Processor Aleris International Inc. and smelting and processing group Hindalco Industries Ltd. (500440.BY) of India are also investing in downstream production capacity in a bid to meet demand which is expected to grow eightfold in the next decade in segments such as autobody sheet.Global consumption of aluminum is expected to continue growing for three to four years...

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