Copper prices spur demand for aluminum

Rising copper prices may spur demand for aluminum. This opinion was expressed by the head of aluminum producer Alcoa Klaus Kleinfeld, according to Metal Bulletin. "We are witnessing the process of swapping in a large way," - he said, pointing to the use of a winged metal instead of copper in high-voltage power networks in China. He also believes that the power shortage in China may cause a rise in demand for the metal and raise the costs of him. By the way, Alcoa recently agreed to cooperate with a Chinese concern, China Power Investment. In particular, the parties signed a memorandum of understanding. It provides for cooperation between the companies in the field of aluminum production and in the field of clean energy. The project is estimated at 7.5 billion dollars The U.S. company Alcoa is the world's leading producer of aluminum. The company employs 122 thousand people working in 44 countries. The company supplies products for use primarily in the aerospace, automotive, packaging and construction sectors. Ministry of Industry