25 DECEMBER 2014Shanghai Metal Market
Capital floods into China’s flat-rolling aluminum sector
Edited by : AL CIRCLE
1 min read
Investments have been declining in China’s loss-making aluminum smelting industry, while profitable aluminum flat-rolling sector has been attracting a flood of capital, money.163.com reported yesterday.
Losses in the country’s aluminum smelting industry widened 4.2 billion yuan ($680 million) to 8.5 billion yuan during January-October 2014. This led to a 26% year-on-year slump in fixed asset investments in the industry to 50.7 billion yuan for the same period, it added.
Aluminum flat-rolling sector, by contrast, reported an 11.4% year-on-year increase in profits to 36.8 billion yuan in the same period, attracting 165.4 billion yuan in fixed asset investments, up 26% from a year ago, it reported.
Losses in the country’s aluminum smelting industry widened 4.2 billion yuan ($680 million) to 8.5 billion yuan during January-October 2014. This led to a 26% year-on-year slump in fixed asset investments in the industry to 50.7 billion yuan for the same period, it added.
Aluminum flat-rolling sector, by contrast, reported an 11.4% year-on-year increase in profits to 36.8 billion yuan in the same period, attracting 165.4 billion yuan in fixed asset investments, up 26% from a year ago, it reported.
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