Feb. 15, 2012 (China Knowledge) - China's primary aluminum output of this year is expected to increase by 10.5% at least to 21.5 million tons as capacity grows, said Li Guangdong, general manager of Chinalco International Trading Co, a unit of Aluminum Corp of China Ltd (Chalco)<601600
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The country's aluminum demand in 2012 would reach 21.3 million tons, reflecting an increase of 6.6%.
Li added that many Chinese aluminum smelters have delayed the start-up of new capacity due to weak prices.
Global primary aluminum output would total 48.8 million tons in 2012, up 7% from a year earlier, principally boosted by capacity expansion in China, the Middle East and India. The aluminum demand in the world is estimated to increase by 6.4% to 48 million tons this year.
Shanghai Futures Exchange third-month aluminum contract prices would reach between RMB 15,500 and RMB 17,500 per ton this year, said analysts.