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Nanshan Says Sales of Aluminum Products to Double
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March 12 (Bloomberg) -- Shandong Nanshan Aluminum Co., China's second-largest aluminum products maker, said orders will probably double this year because of surging demand.
The company expects to sell 150,000 metric tons of aluminum products, up from 70,000 tons in 2007, Zhao Jinhua, vice general manager of the processing unit Nanshan Light Alloy Co., said in an interview in the eastern province of Zhejiang today. About 40 percent of the products will be shipped abroad, Zhao said.
Aluminum has risen 25 percent this year after power outages in China and South Africa cut output. Demand is gaining as plane- builders and automakers use more of the light-weight metal to cut down weight and raise fuel efficiency.
``Domestic demand is robust and export demand is holding well and will hold well even if the U.S. goes into recession because demand for sophisticated products is quite inelastic,''
Zhao said. ``I don't think the U.S. is in a recession yet.''
The Longkong, Shandong province-based company has an annual capacity of 600,000 tons, Zhao said. Foil is the best-selling export product, he said.
Chinese capacity for aluminum products may increase to 25 million tons by 2012 from 16 million tons, widening a domestic surplus which has to find a way abroad, Zhao said.
A change in tax policy is among the top risks for exporters, Meng Chengjun, vice general manager of Southeast Aluminum Group, a Zhejiang province-based producer, said at a conference today.
Reduction or cancellation of tax benefits on aluminum sheets, foils and other products ``could occur any time'' and ``would be extremely damaging,'' he said.
China, seeking to curb its trade surplus and curb expansion in energy-intensive industries, reduced tax benefits and raised duties on metals exports. China produced 11.8 million tons of aluminum products in 2007 and exported a tenth of the output, Eric Zhang, an analyst at research company CBI China Co., said in the conference.
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The company expects to sell 150,000 metric tons of aluminum products, up from 70,000 tons in 2007, Zhao Jinhua, vice general manager of the processing unit Nanshan Light Alloy Co., said in an interview in the eastern province of Zhejiang today. About 40 percent of the products will be shipped abroad, Zhao said.
Aluminum has risen 25 percent this year after power outages in China and South Africa cut output. Demand is gaining as plane- builders and automakers use more of the light-weight metal to cut down weight and raise fuel efficiency.
``Domestic demand is robust and export demand is holding well and will hold well even if the U.S. goes into recession because demand for sophisticated products is quite inelastic,''
Zhao said. ``I don't think the U.S. is in a recession yet.''
The Longkong, Shandong province-based company has an annual capacity of 600,000 tons, Zhao said. Foil is the best-selling export product, he said.
Chinese capacity for aluminum products may increase to 25 million tons by 2012 from 16 million tons, widening a domestic surplus which has to find a way abroad, Zhao said.
A change in tax policy is among the top risks for exporters, Meng Chengjun, vice general manager of Southeast Aluminum Group, a Zhejiang province-based producer, said at a conference today.
Reduction or cancellation of tax benefits on aluminum sheets, foils and other products ``could occur any time'' and ``would be extremely damaging,'' he said.
China, seeking to curb its trade surplus and curb expansion in energy-intensive industries, reduced tax benefits and raised duties on metals exports. China produced 11.8 million tons of aluminum products in 2007 and exported a tenth of the output, Eric Zhang, an analyst at research company CBI China Co., said in the conference.
Please send us your needs, and we will reply to you within one business day, thanks!
