Novelis Inc., the world's largest automotive supplier of aluminum panels, has stated that China's vigorous development of electric vehicles may push aluminum demand to rise faster than expected.
In an exclusive interview, Shames Maudgal, president of Novelis Asia, said that the demand for aluminum for bodywork in China, Japan, and South Korea, which are the major automobile manufacturers in Asia, is currently around 50,000 tons, and that the average annual demand growth in the next at least 10 years is expected to reach around 30%.
Maudgal also said that China’s goal in the promotion of electric vehicles is very aggressive, and if the promotion project can be successful, the actual increase will be even higher.
As the world's largest carbon emitter, China has stipulated that at least 30% of new government official vehicles by 2016 must be new energy vehicles in order to curb pollution and reduce dependence on energy.
It is worth noting that the Social Security Fund also paid attention to the aluminum industry in the third quarter. The data shows that among the four stocks newly entered into Jiancang in the third quarter of the social security fund, the number of shares held by Yunan Aluminum was the largest, reaching 12.1513 million shares.
In addition, Jiaozuo Wanfang, Mingtai Aluminum, Nanshan Aluminum, Xinjiang Zhonghe and other industry leaders are also expected to benefit from the growing demand for aluminum materials .