China aluminum consumption to raise 10pct this year

Norwegian aluminum group Norsk Hydro sees Chinese aluminum consumption rising by 10% this year.

Mr Svein Richard Brandtzaeg CEO of Norsk Hydro said that we expect demand in the world outside China to be up 7 percent in 2011. We see demand within packaging quite stable increasing.

Hydro posted Q4 operating profit that beat forecasts and said global primary aluminum markets would stay within a manageable surplus in 2011 as it ramps up production.