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Analysts expect that China's aluminum demand will grow by nearly 20% this year
Analysts expect that China's aluminum demand will grow by nearly 20% this year. Singapore, August 11 News, industry analysts and traders said on Wednesday that China's rapid economic growth macroeconomic control measures make China's construction and automotive manufacturing industry The slowdown in demand growth, but it is expected that China's aluminum demand will still grow by nearly 20% this year. Industry analysts and traders said that traders’ aluminum inventories have increased due to seasonal power supply constraints and bottlenecks in transportation. “The impact of China's transport bottlenecks and high inventory levels on China’s aluminum demand has been overestimated by the market.†Consumers of aluminum smelters and the aluminum industry in the construction industry have been affected by China’s credit tightening policy. As of August 5, the aluminum stocks on the Shanghai Futures Exchange were 164,258 tons, which is half of the inventory level in early May. Some traders expect aluminum inventory, including private warehouses, to be estimated at 700,000 tons last month. Due to the tight supply of electricity, some metal processors cut production. Analysts at an analyst firm in Beijing, China, said that China’s primary aluminum demand this year is expected to increase 19% from 4.95 million tons in 2003 to 5.90 million tons. Some analysts also expect China's aluminum demand to increase by 16-18% this year. The construction industry in China is a large aluminum producer. Aluminum is also widely used in the automotive and packaging industries. Overseas car makers, including Volkswagen AG and general motors, plan to invest US$13 billion in China to triple production capacity by the end of 2010. However, at present, China's aluminum demand is constrained by the bottleneck of transportation, because both the raw material transportation (import) and the product shipment (export) of metal processors are both plagued by the capacity. Because of the tight electricity supply, many of the railway transportation capacity has been used to prioritize the transportation of coal for power generation. (Mandarin Finance compiled)