The comprehensive media reported on April 15 that recently, the eight ministries and commissions, including the National Development and Reform Commission, will jointly issue documents to stop the proposed electrolytic aluminum project. Although China has once again put pressure on the aluminum industry to limit capacity growth, local governments are eager to launch projects to create jobs and promote economic growth, and the measures are unlikely to be effective.
As the world's largest aluminum producer and consumer, China has ordered the suspension of all planned aluminum smelting projects and is considering reducing the export tax rebate for some aluminum products in order to limit the rapid growth of this energy-intensive industry.
Traders and analysts estimate that if implemented, the plan may delay or cancel about 7 million tons of planned smelting capacity, which is equivalent to one-third of the existing capacity, but the previous regulatory measures for the industry have had limited success.
The data shows that China's aluminum production capacity in 2010 was about 20 million tons, accounting for about 40% of the global production capacity of 50 million tons.
The market expects that China's aluminum production will exceed the consumption of 1 million tons, if coordinated and effective capacity reduction, or eliminate the remainder. If this policy is maintained, China will be transformed into a net importer of aluminum, which may boost global aluminum prices.
However, if, as many people in the industry expect, the means of regulation tend to be soft, oversupply or continuous suppression of domestic aluminum prices, the current domestic price is only 5% higher than the long-term average price since 1994, and the international aluminum price has been higher than the average price over the same period. Out of 45%.
As the world's largest aluminum producer and consumer, China has ordered the suspension of all planned aluminum smelting projects and is considering reducing the export tax rebate for some aluminum products in order to limit the rapid growth of this energy-intensive industry.
Traders and analysts estimate that if implemented, the plan may delay or cancel about 7 million tons of planned smelting capacity, which is equivalent to one-third of the existing capacity, but the previous regulatory measures for the industry have had limited success.
The data shows that China's aluminum production capacity in 2010 was about 20 million tons, accounting for about 40% of the global production capacity of 50 million tons.
The market expects that China's aluminum production will exceed the consumption of 1 million tons, if coordinated and effective capacity reduction, or eliminate the remainder. If this policy is maintained, China will be transformed into a net importer of aluminum, which may boost global aluminum prices.
However, if, as many people in the industry expect, the means of regulation tend to be soft, oversupply or continuous suppression of domestic aluminum prices, the current domestic price is only 5% higher than the long-term average price since 1994, and the international aluminum price has been higher than the average price over the same period. Out of 45%.
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