China to Remain No. 1 Scrap Aluminium Importer Next 5 Years

(China Aluminium Network) China will remain the world’s largest scrap aluminium importer for the next 5 years because of booming demand from the auto industry, an official of Chinalco said on Thursday.

China’s demand for scrap aluminium totaled 3.9 million tons last year, 27% of them from the domestic market, said Liu Bo, vice general manager of Chinalco’s Nela Import and Export Corp. He predicted that average monthly import would hold steady at 210,000 tons for the rest of the year.

The accelerating appreciation of the yuan would help boost demand for scrap aluminium from the US and Europe.

Meanwhile, the domestic supply is rising, Liu said, scrap aluminium output will reach 4.5 million tons by 2014 from a record high of 3.65 million tons last year.

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