BEIJING, Dec 5 (Reuters) - Henan Mingtai Aluminum , one of China’s biggest aluminium sheet manufacturers, on Tuesday said it expected its production and sales to keep growing in 2018 despite the launch of U.S. trade probes into imports of the product from China.
Mingtai, with a production capacity of 650,000 tonnes per year of semi-finished aluminium products, is the first Chinese firm to make a public statement about the twin anti-subsidy and anti-dumping probes into Chinese aluminum alloy sheet announced by Washington last month.
China’s Ministry of Commerce has already expressed “strong disatisfaction” over the action amid rising trade friction between the Trump administration and Beijing.
While pledging to cooperate with the investigations, Mingtai said that any allegations that Chinese aluminium sheet was being sold at an “unfair price” and benefiting from government subsidies did “not match the facts”.
Exports account for only 25 percent of the company’s total sales, Mingtai said in response to questions on a Shanghai Stock Exchange investor platform, and go to over 50 countries. The company is therefore not reliant on the United States market, it said.
Mingtai also produces aluminium foil, another product that has been hit with punitive tariffs in the United States.
However, the company noted that the latest probe does not include aluminium plate, in which it said it had a new 200,000 tonnes per year production line that would be gradually brought on stream, helping to boost sales next year. (Reporting by Tom Daly; Editing by Joseph Radford)