- Wednesday 2010-09-01 12:12
September 1 -- China's aluminum production volume in 2010 is expected to grow 30 percent year-on-year to 16.9 million tons, reports China Business News, citing estimates from UC Rusal, the world's largest aluminum producer.
According to UC Rusal, China's aluminum consumption volume in 2010 will increase 20 percent year-on-year to 16.7 million tons.
Over 20 percent of China's aluminum producers are expected to record losses due to rising labor and raw material costs.
UC Rusal reported net profits in the first half of 2010 reached 1.268 billion dollars, compared with net losses of 860 million dollars in the same period of last year.
UC Rusal attributed first half earnings growth to strong demand from the auto and construction industries, especially in Asian countries with China in the lead.
Shares of Aluminum Corporation of China (601600, 2600.HK), China's largest aluminum producer, remained flat to close the morning session of the Shanghai Stock Exchange at 10.1 yuan.
