Other competitors in the basic materials sector include: Aluminum Corp. of China (ACH), Alumina Limited (ADR) (AWC), and Noranda Aluminum (NOR).
Aluminum Corp of China Ltd. shares are currently trading up about 2.9% on the day.
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Aluminum Corp of China Ltd. shares are currently trading off about 0.8% on the day.
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In the case of Aluminum Corp of China Ltd.
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Aluminum Corp. of China and Jiangxi Copper each finished down 1.2%, and Angang Steel fell 0.5%.
Sure, you can argue that robust industrial demand in China and elsewhere drives oil and aluminum prices.
The case of China Zhongwang Holdings, a giant aluminum producer, illustrates how Liaoning province effectively went into debt in a roundabout manner and concealed the borrowing.
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Theoretically, China could become a net importer of aluminum, even though 10 fully committed, verified expansion projects are coming in the next 18 months, Vazquez said.
FORBES: Stable-Higher Aluminum Expected From Participants, Delegates At Conference
The lower prices that producers are receiving for aluminum is already affecting output in China, analysts said.
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China is a top area for growth in aluminum output and use, but another region that is seeing growth in aluminum production is the Middle East, he said.
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China may now have 45 percent of global capacity for smelting aluminum, but it also consumes 40 percent of global output.
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Using a company called Namchongang Trading, with offices in Pyongyang, Damascus and China, Yun had served as a middleman, ordering goods such as high-strength aluminum tubes from Europe, in ways that cloaked the real purpose and destination.
He said aluminum demand has hit new highs and an internal deficit in the key commodity-consuming nation of China is widening.
FORBES: Stable-Higher Aluminum Expected From Participants, Delegates At Conference
China represents 42% of global demand for the four main base metals: copper, zinc, nickel and aluminum, so its decisions regarding how to direct its state-run economy are paramount to the outlook for these commodities, she said.
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