16 JANUARY 2015AlCircle.com
China seen to shift focus from heavy metals to aluminium
Edited by : AL CIRCLE
2 min read
There is a distinct shift noticed in the Chinese market from heavy metals to minerals that were once overlooked. The bearish outlook in core industries like iron ore and coal is largely responsible for the shift in focus.
The minerals that have gained importance are bauxite – for making aluminium, zinc, copper, natural gas and uranium that are the feedstock for numerous consumer goods like washing machines, air conditioners and cars that are growing in demand amongst the 1.4 billion consumers in China.
It has already been noticed that China has become the second largest consumer in the world after US, beating Japan. Euromonitor International forecasts that among the vast population, nearly 90 percent of Chinese households amounting to 470 million by 2030 will have around $15,000 or more of disposable income making them premium consumers compared to U.S. the 133 million households in U.S.
Considering a washing machine and refrigerator (taken to be basic household commodities) use 7 kg and 4 kg of aluminium respectively, a typical home would use at least 11 kg of aluminium, then there are numerous little things that use aluminium, including many cars these days, taking the number even higher.
The popularity of aluminium is seen to be increasing and is predicted to climb by 16 percent this year.
The minerals that have gained importance are bauxite – for making aluminium, zinc, copper, natural gas and uranium that are the feedstock for numerous consumer goods like washing machines, air conditioners and cars that are growing in demand amongst the 1.4 billion consumers in China.
It has already been noticed that China has become the second largest consumer in the world after US, beating Japan. Euromonitor International forecasts that among the vast population, nearly 90 percent of Chinese households amounting to 470 million by 2030 will have around $15,000 or more of disposable income making them premium consumers compared to U.S. the 133 million households in U.S.
Considering a washing machine and refrigerator (taken to be basic household commodities) use 7 kg and 4 kg of aluminium respectively, a typical home would use at least 11 kg of aluminium, then there are numerous little things that use aluminium, including many cars these days, taking the number even higher.
The popularity of aluminium is seen to be increasing and is predicted to climb by 16 percent this year.
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