Aluminum facing more mergers, shutdowns

Dec 04, 2007 | 10:09 AM | Vivian Teo

China's aluminum industry can expect further consolidation, with more companies closing down due to rising costs and stricter government guidelines for the sector, according to an analyst.

The government has ordered the industry's preferential power tariffs to be canceled by the end of this year, which means power prices for aluminum smelters will rise an average of 1 to 2 cents per kilowatt hour in 2008 after taking into consideration provinces' varied strength in executing the order, Chinese securities firm Essence Securities said in a report.....

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