For 2014, Alcoa is forecasting a 7% increase in global demand for aluminium as well as a supply shortfall of 930 000 tonnes, which compares to the deficit of 730 000 tonnes projected by the company earlier in the year.

Alcoa expects global aerospace growth of 8-9% this year, driven by 'robust demand for both large commercial aircraft and regional jets'. Automotive growth is put at 1-4%, packaging growth at 2-3%, and building and construction growth at 4-6%.

Alcoa continues to expect a steady commercial transportation market in 2014, with growth of between -1% and 3% owing to weakness in the European market.

• [Editor:Yueleilei]