According to the report from China’s Tianshan Aluminum, in the first quarter of 2023, its revenue realization totaled about CNY 6.9 billion, and the net profit attributable to equity holders amounted to CNY 501 million.
Tianshan Aluminum indicated that as the investment in the infrastructure expands and the real estate industry resumes, aluminum demand is increasing stably. Besides, the development of solar and automobile industries also increases aluminum requirements.
Recently, the limit of electricity in China’s southwestern area made aluminum prices rebound. In terms of outlook in the second half of 2023, the weakened US dollar might support aluminum prices. Also, the demand from downstream buyers would recover, bringing the aluminum market to the optimistic side.
Tianshan Aluminum: China’s aluminum market expected to be optimistic in H2 2023
3 May 2023 15:17 reported by Stanley Wang
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