Over the past decade, Chinese aluminum production has grown at an unprecedented rate in global economic history. In 2000, China produced about 11 percent of the world’s primary aluminum – today, we produce more than half.
Much of this expansion was driven by artificial incentives, subsidies and central planning by the Chinese government. This behavior led to smelters being built even when doing so made little economic sense.
Indeed, of the 50 highest-cost aluminum smelters in the world, 37 are in China.
The current situation is bad for China and bad for the rest of the world.
Today, as China’s economy has begun to slow, and less of the metal is being absorbed domestically, there is a severe oversupply of Chinese-produced metal. This oversupply is driving a dramatic increase of imported Chinese aluminum into the United States.
We are now developing the American market, building the factory in North America. This action will make us permeate to the market and establish a firm base in this market.
According to Aluminum Association data, US imports of semi-fabricated aluminum products from China grew 181 percent between 2012 through 2015. And this trend is continuing.
HY Industry is the leading company to export aluminum products to the world, we will also keep improving ourselves and providing our best service.