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Rusal (UC RUSAL), the world's largest aluminum producer, estimates that on August 31, China's aluminum production in 2010 will increase by 30% to 16.9 million tons, and consumption will increase by 20% to 16.7 million tons.
Rusal expects that China Electric (600795 shares) will rise, raw material costs will rise, and wages will increase. More than 20% of Chinese manufacturers cannot make profits at current prices.
RUSAL emphasizes that the major industries that promote the growth of aluminum demand in the first half of the year are the automobile and construction industries, especially in the Asia-dominated Asian region.
The semi-annual report disclosed by RUSAL on the same day showed that the company benefited from the recovery of the industry. The company’s net profit for the first half of the year was US$1.268 billion, compared with a loss of US$860 million in the same period of last year.
Rusal expects that China Electric (600795 shares) will rise, raw material costs will rise, and wages will increase. More than 20% of Chinese manufacturers cannot make profits at current prices.
RUSAL emphasizes that the major industries that promote the growth of aluminum demand in the first half of the year are the automobile and construction industries, especially in the Asia-dominated Asian region.
The semi-annual report disclosed by RUSAL on the same day showed that the company benefited from the recovery of the industry. The company’s net profit for the first half of the year was US$1.268 billion, compared with a loss of US$860 million in the same period of last year.