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Need for aluminum set to soar
By Polly Yam |
November 30, 2009, Monday
|
Print Edition
Print Edition
CHINA'S annual consumption of primary aluminium is set to rise 15 percent to 15.9 million tons next year as the Chinese economy expands and demand for Chinese goods from overseas increases, Li Yang, a senior analyst at state-backed research group Antaike, said over the weekend.
The demand growth is higher than Antaike's prediction of an 8.7 percent rise this year in China, the world's top consumer and producer of primary aluminium.
But China may still have a surplus and turn into a net exporter in 2010 after this year's record imports, due to high domestic production.
"Next year's economy should grow steadily and the growth rate should be at least 8-9 percent," Li Yang told a conference in Kunming, capital of southwest China's Yunnan Province.
The developed countries are expected to recover from the global financial crisis next year and that would boost their demand for Chinese goods.
Li predicted China's net exports of primary aluminium would rise to 300,000 tons next year versus net imports of 1.45 million tons expected this year.
The demand growth is higher than Antaike's prediction of an 8.7 percent rise this year in China, the world's top consumer and producer of primary aluminium.
But China may still have a surplus and turn into a net exporter in 2010 after this year's record imports, due to high domestic production.
"Next year's economy should grow steadily and the growth rate should be at least 8-9 percent," Li Yang told a conference in Kunming, capital of southwest China's Yunnan Province.
The developed countries are expected to recover from the global financial crisis next year and that would boost their demand for Chinese goods.
Li predicted China's net exports of primary aluminium would rise to 300,000 tons next year versus net imports of 1.45 million tons expected this year.
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