China Coal, Copper and Aluminum Resources Will Rely More on Import

(China Aluminum Network) June 7, evidence shows that China’s overseas demand for coal, petroleum, copper and aluminum will rise again the second half year.

According to Ruters, on May, 30, during the COALTRANS ASIA, Neil Dhar, Executive Vice President of NobleGroup expected that China’s thermal coal import will reaches 90 million tons, in 2011. Meanwhile, the power shortage pushes the demand of coal.

The report also found that owing to power shortage, many Aluminum smelters are force to shut down in China, this may push the import of precision aluminum, and coal and petroleum will benefit from it. At the same time, seasonal needs increases, stock consumption and the arbitrage space shrink between China domestic market and London Metal Exchange indicate that copper demand in China will reach a turning point.

According to the data released by General Administration of Customs of China indicates that the main commodities import amount remains increasing and import price generally rise in the first quarter. Customs statistics report that import 180million ton iron ore, price increase 14.4%, average import price was $156.5 per ton, rise 59.5%.

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