Aluminum Industry May Still Suffered Depression

(China Aluminum Network) Recently Chinalco Expected that net margin reduced over 50% yearly in 2011, according to company’s net margin in 2010 last year’s net margin may less than 0.389 billion yuan.

Chinalco explained that owing to the debt crisis in Europe and global economic environment aluminum price dropped largely in the fourth quarter of last year. Furthermore, the rising of electrovalence also improve production cost. While, the losses in the fourth quarter affected company’s whole year profits.

It is learned that the same as Chinalco many domestic aluminum enterprises also faced with such difficulties. Xiong Weiping who is the general manager of Chinalco agreed that many enterprises confronted with cost and product prices upside down and limited orders, so enterprises always felt in hard winter. Zhang Rufeng stated that European debt crisis happened in 2011 then dollars rebounded that most commodity prices dropped as well as aluminum price.

From the view of demand the future of domestic aluminum enterprises still not optimistic.

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