Reuters reported that China's aluminium output in 2010 may climb to more than 15 million tonnes and its smelting capacity grow between 2 million tonnes to 3 million tonnes.
The report quoted Mr Wen Xianjun vice chairman of China Nonferrous Metals Industry Association as saying that China's aluminium smelting capacity increase this year would be against 20.6 million tonnes in 2009.
He said that “The production is still growing fast and pressure is mounting from excessive smelting capacity. Capacity is increasing too fast, but investment is still enthusiastic.”
Mr Wen said that China's aluminium output was 13 million tonnes in 2009 investment in new aluminium projects jumped more than 100% from a year earlier to CNY 6.29 billion.
Mr Wen said the aluminium industry was also facing pressure from higher energy costs as power tariffs were expected to rise this year. He added that “I'm not pessimistic about aluminium prices this year, but smelters are probably making money due to higher cost.”
(Sourced from Economic Times)
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