May. 29, 2009 (China Knowledge) - Minmetals Resource<1208>, the listed alumina trading unit of China Minmetals Corp, said its aluminum processing output will be increased to 105,000 tons in 2009, 25,000 tons more than that in the previous year, sources reported.
    The output increase will come from the aluminum foil production line that will be put into operation in the third quarter of this year.
    The management of the company said prices of aluminum are likely to rebound in 2009, benefiting from several of the Chinese government's new policies designed to increase the demand for aluminum products.
    Hao Chuanfu, the president and executive director of Minmetals Resources, said the trade volume of alumina and aluminum ingots so far this year is at the same level as in the corresponding period a year earlier. He predicted that annual sales of alumina will reach 1.2 million tons in 2009, compared with the 1.43 million tons of 2008.
    The current price of alumina is US$210 per ton, compared with US$170 per ton at the end of 2008.
    According to the central government's stimulus package for the nonferrous metals and logistics sectors, China will enlarge the storage of nonferrous metals, which will improve the oversupply situation in the country and may lead to a price rebound.