December 16 -- United Company Rusal （0486.HK） estimates an eight percent year-on-year growth in the worldwide consumption of aluminum in 2011 to 43.8 million tons as demand from the European Union, U.S. and Japan recover, reports yicai.com, citing Rusal.
Chinese consumption of aluminum is expected to climb 12 percent year-on-year to 18.5 million tons in 2011.
According to Rusal, with increasing urbanization in China, imports of aluminum by China is expected to total between three million and four million tons by 2015.
More than 20 percent of Chinese aluminum producers may not breakeven due to increases in domestic electricity costs, raw materials and labor costs.
Due to restrictions placed by the Chinese government on obsolete production equipment and the appreciation of the yuan, China could reduce the production of aluminum.
Rusal forecasts that the price of aluminum will remain at between $2,400 and $2,500 per ton in 2011 due to strong demand.
豫公网安备41010502003434号