Novelis CEO Says Outlook for Aluminum Demand Improves on Economy
- CEO Steve Fisher is expecting ‘soft landing’ next year
- US economy remains robust while inflation is moderating: CEO
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Novelis Inc., the largest maker of flat-rolled aluminum products used in everything from automobiles to beverage cans and airplanes, said demand for the metal heading into 2024 is stronger than it expected three to four months ago.
While aluminum consumers are running down their stockpiles — indicating demand has slowed from the same time a year ago — the company now expects a “soft landing,” Novelis Chief Executive Officer Steve Fisher said in an interview. The US economy has been more resilient than anticipated and inflation has moderated, suggesting the Federal Reserve may halt rate hikes, he said.