United Company RUSAL of Russia, the world's largest producer of
aluminum and alumina, said yesterday it is preparing to export
electrolytic aluminum to China from 2009.
Peter Finnimore, aluminum sales director of UC RUSAL, said: "We
are looking to the broad prospect of China's aluminum industry,
which is expected to continue with the developing momentum in the
years to come, largely driven by the country's robust economic
growth."
Finnimore said UC RUSAL expects to export an average of 200,000
to 300,000 tons of electrical aluminum to China per year from 2009.
The Russian aluminum giant is also showing keen interest to
establish cooperation with China's domestic aluminum companies,
such as Aluminum Corporation of China Ltd (Chalco), the largest
domestic aluminum producer, and other local aluminum companies.
Analysts said China's fast growing economy is the major driver
behind the development of the non-ferrous industry.
"Anticipation of China's growing demand in the years to come is
the major factor attracting foreign players to be engaged in
China's market," said Liu Minda, an analyst of non-ferrous metals
at Huatai Securities.
Industry analysts said the current domestic market is expected
to have an oversupply this year, with a total of 75,000 tons of
aluminum exceeding the aggregate domestic demand. But the market
equilibrium could change quite abruptly because of latent demand
from the construction and manufacturing sectors.
According to Antaike, the leading information provider in the
non-ferrous metals industry, the total domestic output of
electrolytic aluminum is expected to reach 11.7 million tons this
year. The aggregate demand of electrolytic aluminum is estimated at
around 10.8 million tons.
United Company RUSAL is the global leader in the aluminum
industry, accounting for approximately 12.5 percent of aluminum and
16 percent of the world's alumina production.
(China Daily August 31, 2007)
