Shanghai Metal Market
China To Import 6 Mln-10 Mln Tons Alumina A Year By 2021 -Norsk Hydro Executive
Edited by : AL CIRCLE
1 min read
China will import 6 million-10 million metric tons of alumina a year by 2021 as its demand for aluminum raw material increases in line with sustained growth in the country, a senior executive at Norsk Hydro told Dow Jones Newswires Wednesday.
China will import just less than 2 million tons of alumina in 2011, but this will more than treble in the next decade as rapid urbanization boosts demand for aluminum to around 36 million tons a year, twice the current level, Simon Storesund, general manager, commercial, bauxite and alumina at Norsk Hydro, said.
Norsk Hydro expects Chinese growth to continue at a rate of 7% over the next five years and at 5% for five years afterward, he said at Metal Bulletin's Asian Bauxite and Alumina Conference in Singapore.
Latest Chinese import data showed the country imported 10,800 tons of alumina in September, up 40% from a year ago.
Storesund declined to comment on near-term market conditions or the effect of Chinese demand on alumina and aluminum prices, but said both materials are well supported around current levels due to industry cost pressures.
China will import just less than 2 million tons of alumina in 2011, but this will more than treble in the next decade as rapid urbanization boosts demand for aluminum to around 36 million tons a year, twice the current level, Simon Storesund, general manager, commercial, bauxite and alumina at Norsk Hydro, said.
Norsk Hydro expects Chinese growth to continue at a rate of 7% over the next five years and at 5% for five years afterward, he said at Metal Bulletin's Asian Bauxite and Alumina Conference in Singapore.
Latest Chinese import data showed the country imported 10,800 tons of alumina in September, up 40% from a year ago.
Storesund declined to comment on near-term market conditions or the effect of Chinese demand on alumina and aluminum prices, but said both materials are well supported around current levels due to industry cost pressures.
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