China's urbanization to boost aluminum demand in coming decades

Urbanization in China is expected to stimulate aluminum consumption in coming decades, Chinese metals consultancy Beijing Antaike told a metals seminar in Hong Kong Monday.

"China's is still undergoing urbanization in the next few decades, with urbanization rate reaching 60% by 2020, and 65% by 2030, and 75% by 2050," Wang Zhongkui, Vice General Manager of Antaike said.

"China's per capita aluminum consumption hasn't reached its peak yet, with the S-shaped growth curve still rising," he said.

The Beijing agency said in 2012 that China's per capita aluminum consumption was 17.4kg, with per capita GDP of Yuan 27,350 ($4,428).

Based on Antaike estimates, Chinese per capita aluminum consumption could reach 30kg by 2020, assuming GDP grew by 7% a year to Yuan 46,994/head, with the population rising to 1.43555 billion and an aluminum consumption target of 43.07 million mt/year by 2020.

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