China's aluminum consolidation drive may benefit Chalco

Jan 29, 2013 | 11:18 AM | None

Tags  Aluminum Corp. of China, Chalco, aluminum, aluminum consolidation, Zhongfu Industrial, Shenhuo Group, Jiaozuo WanFang Aluminum Manufacturing, Henan Wanjo Aluminum Henan Yugang Longquan Aluminum

SHANGHAI — The drive for industry consolidation and restructuring by China’s leadership is expected to benefit big companies, such as Aluminum Corp. of China Ltd. (Chalco), according to market participants.

On Jan. 22, the country’s Ministry of Industry and Information Technology (MIIT), the National Development and Reform Commission (NDRC) and 10 other ministries set out guidelines for the future structure of nine industries, including aluminum, rare earths and steel.

According to the guidelines, China aims to have a few aluminum business conglomerates with "core competitiveness and international influence" by 2015, and have the top 10 smelters accounting for 90 percent of the country’s total production capacity.....

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