14 SEPTEMBER 2011China Aluminium Network
RUSAL sees China importing aluminum
Edited by : AL CIRCLE
1 min read
Russia's RUSAL (0486.HK), the world's largest aluminum producer, expects China to become a net importer of the industrial metal in "some quarters" of 2012, a senior RUSAL official said at the Reuters Russia Investment Summit.
"Thus far, China has not become a net importer of aluminum, but only (achieved this) by reducing stocks on the Shanghai exchange," Maxim Sokov, RUSAL's director for strategy told the Summit, held at Reuters' office in Moscow, adding that analysts at CRU found that inventories were down sharply from the start of July.
"This is already a serious signal that we could see Chinese aluminum imports at the end of this year or the start of next year."
Aluminum is a key metal for industries ranging from auto production to construction, and it is one of many materials in demand as the Chinese economy continues to grow.
"Thus far, China has not become a net importer of aluminum, but only (achieved this) by reducing stocks on the Shanghai exchange," Maxim Sokov, RUSAL's director for strategy told the Summit, held at Reuters' office in Moscow, adding that analysts at CRU found that inventories were down sharply from the start of July.
"This is already a serious signal that we could see Chinese aluminum imports at the end of this year or the start of next year."
Aluminum is a key metal for industries ranging from auto production to construction, and it is one of many materials in demand as the Chinese economy continues to grow.
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