Apr 25, 2012 (Bloomberg) - China’s aluminum consumption will grow at an annual rate of 10.5 percent to 27.5 million tons by 2015 amid continuous urbanization and investment in infrastructure and construction, said Rusal Marketing GmbH.
Growth will slow from the 17.2 percent rate during 2005 and 2010, Chief Executive Officer Steve Hodgson said in a speech at a Metal Bulletin conference in Shanghai. China is unlikely to support Asian demand for primary aluminum and may reduce demand from the region with rising exports of semi-finished products, he said.
Rusal will invest in a company in Shenzhen to act as its trading vehicle in China, Hodgson said. It agreed in November to buy a stake in an affiliate of China North Industries Corp., or Norinco.
Aluminum on the London Metal Exchange has climbed 3.3 percent this year and traded at $2,087 a ton as of 11:59 a.m. in Shanghai.