首页|China unlikely to flood global market, says Alcan
China unlikely to flood global market, says Alcan
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NSTL
China is unlikely to flood the global market with aluminium, despite concerns by some industry analysts and commentators, according to a press release issued by Canadian aluminium giant Alcan. The country also is not likely to become a consistent net exporter of this primary metal for many years to come, Alcan Inc.'s senior executive with responsibility for worldwide primary metal production is reported to have said. "Rather than becoming a destabilizing influence, China will emerge as a dynamic and valued member of the global aluminium industry," the release quoted Cynthia Carroll, president of Alcan Primary Metal Group, as saying. Speaking to the annual meeting of The Aluminium Association, Carroll said she did not foresee a repeat of the situation that occurred in the early 1990s when a weak internal economy prompted Russia to oversupply the world aluminium markets, driving prices downward, the press release stated. Some industry analysts and commentators fear the same will happen with China, the world's largest aluminium producer, which increased yearly domestic aluminium production by 600,000 tons in 2001 and by another 24 percent this year. "First, unlike Russia, China's robust gross domestic product is forecasted to grow 7-8 percent annually. Yearly industrial production is forecasted to expand by about 8 percent, fueling internal demand for aluminium that has been growing at a compounded annual rate of 14 percent since 1997," Carroll said in the release. She pointed out that per-capita consumption of aluminium in China is about two kilograms compared to 35 kilograms in the United States, so "there still is ample room for growth."
NSTL
