SHANGHAI, Feb. 24 (SMM) -- China’s National Bureau of Statistics issued the Statistical Communiqué of the People's Republic of China on the 2011 National Economic and Social Development (Communiqué) on February 22. According to the Communiqué, China’s aluminum output was 17.68 million mt during 2011, up 12.1% YoY, while aluminum output in 2010 was 15.65 million mt, up 21.4% YoY, indicating the growth of domestic aluminum output slowed in 2011.
SMM believes China’s policies to control nonferrous metal output contributed to slower growth of aluminum output.
In addition, the growth of fixed-asset investment and total retail sales of consumer goods slowed, which also exerted negative impact on aluminum output. Data shows that China’s total retail sales of consumer goods were RMB 18.3919 trillion in 2011, up 17.1% YoY, with the growth rate lower than 2010 level. China’s total fixed-asset investment was RMB 32.1022 trillion in 2011, up 23.6% YoY. The fixed-asset investment in the nonferrous metals smelting and pressing sector was RMB 386.1 billion in 2011, up 36.4% YoY; the investment in construction industry was RMB 325.3 billion, up 43.9% YoY; and the investment in property sector was RMB 7.5685 trillion, up 29.7% YoY.
Data also shows that China’s alumina output was 24.17 million mt during 2011, up 18.1% YoY, while alumina imports were 1.88 million mt, down 56.4% YoY.