www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

Top Biz News

Power cuts take sheen off aluminum producers

By Hou Qingyang (China Daily)
Updated: 2010-01-21 07:56
Large Medium Small

Aluminum prices are on the rise as the government moves to reduce overcapacity in the sector and conserve energy in the midst of several cold spells hitting China this year.

With a quarter of the nation's aluminum production coming from Henan province, output slowed after December's bout of cold weather created electricity shortages.

By order of the government, producers were forced to reduce capacity to save electricity desperately needed to heat homes.

As a result of power rationing, the nation's largest aluminum producer - the Aluminum Corporation of China (Chinalco) - was forced to shut down two production lines at its Henan subsidiary earlier this month.

While producers would like to capitalize on the rise in prices, they don't have the electricity to do so. "The price of aluminum is attractive but we cann't increase output. In fact, we are on the verge of our power being cut," said a source at Hengkang Aluminum Co Ltd, who requested anonymity.

Aluminum prices have jumped more than 10 percent since December's record snowfall, with aluminum futures closing at 17,410 yuan ($2,550.06) per ton yesterday on the Shanghai Futures Exchange.

Producers are not alone in feeling the heat from price increases. Surging prices may drive aluminum fabricators to the futures market to hedge their risks.

Yuanda International Aluminum Group, the biggest aluminum curtain-wall maker in China, is eyeing aluminum futures.

Wang Yijun, president of Yuanda, said rising aluminum price have pushed up costs and undermined the company's competitiveness. "We are studying the feasibility of using financial derivatives to hedge risks," he said.

"Of course cold weather is a factor impacting prices, but there may be market speculation going on as well," said Wang. "It may be a seasonal fluctuation, and we expect prices will likely return to normal."

Related readings:
Power cuts take sheen off aluminum producers Chinese vice premier stresses stable energy supply
Power cuts take sheen off aluminum producers Cold wave causes power rationing
Power cuts take sheen off aluminum producers China's 2009 aluminum consumption may rise 12%: Minmetals
Power cuts take sheen off aluminum producers 
Copper down on tightening fears

But analysts disagreed, saying speculation will only jack up prices further.

"Aluminum prices will continue to rise for two or three years with a long period of fluctuation as excessive liquidity and a weaker dollar heat up commodity market investments," said Li Huazheng, an analyst at Shanghai Securities.

"Aluminum producers should carefully manage their positions according to demand for the raw material, " he said.

China is the world's biggest aluminum producer, and the government is well aware of the vast amount of energy required for aluminum production. Therefore, officials have ordered producers to reduce overcapacity and conserve energy.

Just last month, Li Yizhong, minister of industry and information technology, vowed to put aluminum capacity issues at the top of his agenda. The ministry also urged producers to speed up their merger and acquisition efforts to upgrade the industry as a whole.

主站蜘蛛池模板: 99国产成人高清在线视频 | 亚洲成在人线中文字幕 | 一级一片一_级一片一 | 九九re6精品视频在线观看 | 一区中文字幕 | 亚洲一级毛片在线观播放 | 国产玖玖在线 | 国产精品免费一区二区三区 | 免费一级夫妻a | 顶级毛片在线手机免费看 | 久久精品国产99精品最新 | 日韩精品免费视频 | 成人在线视频一区 | 在线黄 | 国产国模福利视频 | 草草视频在线观看最新 | 欧美性色生活片天天看99 | 欧美全免费aaaaaa特黄在线 | 欧美亚洲中日韩中文字幕在线 | 成人免费视频一区二区三区 | 综合免费视频 | 91在线 | 亚洲 | 国产在线爱做人成小视频 | 久久视频在线免费观看 | 欧美—级v免费大片 | 国产精品久久久久久搜索 | 国产精品反差婊在线观看 | 久久毛片网| 国产极品精频在线观看 | 国产日韩久久 | 国产无套视频在线观看香蕉 | 手机看片神马午夜 | 成年女人色毛片免费 | 欧美视频一区二区三区四区 | 亚洲香蕉一区二区三区在线观看 | 日本特黄特色大片免费看 | 国产a久久精品一区二区三区 | 亚洲精品网址 | 亚洲欧洲国产成人综合一本 | 欧美日韩视频一区二区三区 | 国内精品中文字幕 |