Hong Kong, Aug. 15 (Xinhuanet) - China Hongqiao Group Co., Ltd., the world's largest aluminum producer, announced its interim results for 2016 in Hong Kong on June 15, as of June 30, 2016, Six months, the Group recorded total revenue of 25.375 billion yuan, an increase of 13%; net profit of 3.279 billion yuan, an increase of 20.7%.
China's Hongqiao Group Co., Ltd. Chief Executive Officer and Executive Director Zhang Bo said that the Group's aluminum production target this year is 6.5 million tons, has reached 5.9 million tons, is expected by the end of 2017 the Group's alumina self-sufficiency rate will reach 100%.
Zhang Bo said that the current return of aluminum prices to a more rational state, the basic can reflect the real relationship between supply and demand is expected in the second half of the aluminum price is more stable, will be about 25,000 yuan per ton fluctuations, the decline may exist, but the rate will not be too Large, because there is demand in the support, the industry's remaining inventory is reduced, the downstream demand growth is higher than the capacity growth.
Zhang Bo stressed that China's aluminum industry overcapacity is definitely a false proposition, the current aluminum industry operating rate has more than 80%, and 80% of the enterprises are making money, when the operating rate of more than 80%, I believe no one would think this is a Overcapacity industry. Chinese enterprises self-discipline, the limited production, production, maintenance market demand, support the rise in aluminum prices and the development of the world's aluminum industry. China's aluminum industry is the development of its own demand-based, China's demand and China's economic growth of the world's aluminum industry is not a blow.
Zhang Bo pointed out that the market demand from the first half of view, the second half of this year, the demand for aluminum products will continue to improve. The next few years, the demand for aluminum will grow more than supply growth. The demand for aluminum in the construction industry is still large, but the development of the entire aluminum industry and changes in consumption structure, so that the proportion of the reduction, while the transportation, electronics and electricity industry demand for aluminum growth will be faster, The proportion will also increase.
For the supply side of the reform, Zhang Bo believes that the current policy is very healthy, the aluminum industry, the enterprises around the industry's complementary advantages, industry mergers and acquisitions and other forms of discussion, I believe that with the supply side of the deepening reform, not just Aluminum industry, other industries will have a new transformation and development, he said the future of China's manufacturing industry with confidence.