NDRC to curb investment in aluminium refinery industry
(Hoovers)
Updated:
2007-04-11 09:56
Counter:
China's National Development and Reform Commission recently called for control of investment in the aluminium refinery industry again, as latest data indicate investment in the sector has rebounded.
Investment in China's aluminium refinery industry more than doubled on year in January-February, but less than 90% of the refined products were sold, the country's top economic planner said in a document posted on its Web site Tuesday.
Easing of a tightness in electricity supply has spurred a quick rise in investment in the first two months this year and led to an oversupply of aluminium, which prompted the government to reiterate that new projects have to meet the government's standards.
Last year, China issued industry access regulation for copper and aluminium producers to control growth in the industry, which consumes vast amounts of natural resources.
In addition, the NDRC last month released the criteria for companies that want to enter the lead and zinc smelting industry, and reinstated access regulations for copper smelters.
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