CHINA June 09 2017 1:33 PM
BEIJING (Scrap Register): With the abundant demand from real estate, car and power sectors, the Aluminum demand in China during the first quarter of 2017 has increased by about 15 percent to 8.24 million tons against the corresponding period last year as per Henan Provincial Nonferrous Metals Guild.
Another component which resulted in the increase in demand was the mainland China macro-policy and better aluminum prices. During the first quarter of 2017 the profit earned by the Aluminum sector was 7.1 billion Yuan against the 5 billion Yuan profit earned during the first quarter of 2016.
Average daily national alumina and refined aluminum production of the country during April was seen at 213000 tons and 92000 tons respectively. China's aluminum stock was more than 1.2 million tons, which marked a historical high level at the end of April.
China's national aluminum demand was estimated to increase to about 46.68 million to 50.93 million tons in 2023 from 34.02 million tons in 2016. This increase is mainly because of demand support by the domestic template, car, decoration, construction, and electronics sectors, according to the China Non-ferrous Metals Industry Association.