China's swoop on Boeing supplier points to aluminium's future
Purchase of Aleris by entrepreneur Liu Zhongtian for US$2.3b indicates Chinese firms are adding downstream capacity by acquiring overseas assets
Wed, Sep 07, 2016 - 5:50 AM
China is a fast-growing consumer of aluminium. Annual demand for the metal will rise six million tonnes by 2018 as the country uses the metal in more cars, construction projects and aircraft, China Nonferrous Industry Association, a state-affiliated group, said in a WeChat post on Aug 23.
CHINA'S emergence as the world's biggest aluminium maker has shaken up the industry, creating a surplus that forced competitors to close plants as profit fell.
Alcoa Inc, an iconic US producer for more than a century, has shuttered all but one smelter and plans to split...