China’s aluminium output up 9.7% in 2013
China’s refined aluminium production was up 9.7% year-on-year at 22 million tonnes in 2013, according to data released by the National Bureau of Statistics.
Output is likely to rise further this year.
“Many ongoing projects will complete construction and commence production [this year] in a row,” Wang Rong, analyst of Guotai Junan Futures in Shanghai, said.
The annual growth in 2013 was slower than the 13% rise seen in 2012, as “production cuts in the first half and ongoing outdated capacity cuts had an effect to a certain extent,” Wang pointed.
The annual output was about 69% of China’s total capacity of 32 million tpy, a clear indication of overcapacity in the sector.
“The consensus is that capacity would peak in 2014,” Wang added.
Publish date : Thursday 30 January 2014 18:48
Story Code: 2842