The price of aluminum oxide increased from RMB1 830 per ton at the beginning of 2003 to RMB3 700 per ton at the end of the year, the growth rate being 102.2%.

According to Sun Zhaohui from Xingye Securities Co., the price of aluminum in the domestic market made a sustained mild increase in 2003. It reached RMB15 800 per ton at the end of the year, the growth rate being 16.6% compared with the pace at the beginning of the year.

The output of electrolytic aluminum in China was estimated to be 5.3 million tons in 2003, an increase of 23% over 2002. Due to the impact from the SARS epidemic, the consumption of aluminum had a considerable reduction in the first quarter. The consumption started to recover in the second quarter. The consumption was not high in the third quarter because it was a slack season. Nevertheless, the total consumption from January to August 2003 still reached 2.749 million tons, an increase of 20% over the same period of the previous year. The driving force for the rapid consumption increase of aluminum was from the boom in fixed asset investment, real estate and automobile sectors. The demand of aluminum in China was expected to have reached around 4.8 million tons in the whole year of 2003. Considering a net export amount of 500 000 tons, the supply and demand was basically balanced.

According to Bo Zhongdong from Jutian Securities Co., the price of aluminum oxide increased from RMB1 830 per ton at the beginning of 2003 to RMB3 700 per ton at the end of the year, the growth rate being 102.2%. The output also made a continuous increase. The output of aluminum oxide was 618 700 tons in 2003.

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