China Hongqiao Group Targets Higher Aluminum Capacity and 100% Alumina Self-Sufficiency

SHANGHAI, Aug. 15 (SMM) – Aluminum capacity at China Hongqiao Group will expand to 6.5 million tonnes at most this year from current 5.9 million tonnes, its CEO Zhang Bo was quoted by sina finance as saying in interim earnings briefing. 

Zhang expects aluminum prices to fluctuate around 12,500 yuan per tonne in the second half of the year. 

Construction sector will remain the biggest driver of domestic aluminum demand, while electronics, transportation and power sectors will see the fastest growth in demand for the light metal, Zhang predicted. 

China Hongqiao Group acquired Binzhou Beihai Xinhe New Materials Co. not long ago, a move that is intended mainly to improve the group’s alumina self-sufficiency rate, Zhang explained. Zhang expects the group’s alumina self-sufficiency rate to reach 100% by the end of 2017. 

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