LONDON (Reuters) - Consumption of aluminum in China, the world’s top user, will increase by 7-9 percent this year and next, an executive at Aluminum Corp of China Ltd (Chalco) said on Tuesday.
Chinese consumption could reach 43 million tonnes in 2020 versus 35.4 million tonnes last year, Chalco Senior Vice President Jiang Yinggang told the CRU Aluminium Conference in London.
He also said China’s biggest state-run aluminum producer had not had any contact with Russian producer Rusal, which was hit with U.S. sanctions this month.
“There is no possibility to deal with them at present. That’s all I know,” he said.
Chalco on Monday reported a 19.4 percent fall in first-quarter net profit hurt by lower prices, but one-off gains helped limit the fall.
Reporting by Peter Hobson; editing by Jason Neely