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Imbalance Of Aluminum To "slim Down" Stop The Bleeding

National development and Reform Commission, said the main characteristics of China's aluminium industry, one is under the State's macroeconomic regulation and forcing mechanisms of the market, new capacity restraints; the second is industry large losses; the third is there production discontinued. Insiders said the level of imbalance of supply and demand is still restricting the price determining factors. In 2014, "downsizing" (reduced capacity) and stop the bleeding is still the main problem facing China's aluminum industry.


Overcapacity


As early as the end of 2013, Vice Chairman of China Nonferrous metals Association had said Wen Xianjun, 2013 electrolytic aluminum production capacity can reach 32 million tons, far exceeding the national "Twelve-Five" in the planning of production capacity of 24 million tons in 2015 target. According to analysis of colored Association, in 2013, the national production of electrolytic aluminum, 21.94 million tons, the capacity utilization ratio was 68.56%, excess rates of more than 30%, even more than the steel industry overcapacity. Such a situation this year continues.


Overcapacity, while aluminium prices continued to slide, once dropped to less than 12500, for nearly 20 years of historic lows, combined with the rising costs of labor, materials and transportation, domestic electrolytic aluminum enterprises losing money is very serious. Aluminum Corporation of China (Chinalco for short) first-quarter earnings showed that the company attributed to the parent company's net profit loss of 2.157 billion yuan, increase of 1.181 billion yuan loss a year earlier.


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