The world’s largest aluminium producer expects to increase its capacity this year, in spite of a global glut that has depressed utilisation rates and weighed on prices for the lightweight metal.
China Hongqiao, the world’s largest aluminium producer by capacity, on Monday said it planned to increase capacity to 6m tonnes by the end of 2016 from 5.19m tonnes at the end of last year, depending on market conditions.
Zhang Bo, chief executive, said: “If demand is good, we will stick with the plan. If not, we can slow down new capacity expansion or even suspend it.”
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