Ten Chinese government departments, including the Ministry of Industry and Information Technology (MIIT), on Friday unveiled a plan for the high-quality development of the aluminum industry through 2027, aiming to increase domestic bauxite resources by 3-5 percent and recycle aluminum output by more than 15 million tons, among other goals.
Notably, the plan aims to enhance foreign trade cooperation. It called for actively responding to trade frictions and promoting high-value exports of advanced aluminum-based new materials and products, according to the plan published on the MIIT's website on Friday.
The plan also called for implementing policies on imports of recycled aluminum raw materials, and encourage the import of high-quality recycled aluminum raw materials that meet national standards.
Additionally, the plan emphasized leveraging the functions of aluminum and alumina futures markets to provide robust risk management tools for enterprises.
Aluminum is widely used in construction, automotive, packaging, electrical-electronics, maritime and other sectors.
The plan came as global demand for aluminum is rising and after the US government earlier this month imposed 25 percent tariffs on steel and aluminum imports from all countries.
According to a report by the International Aluminium Institute, the aluminum sector will need to produce an additional 33.3 metric tons to meet surging demand in all industrial sectors - from 86.2 metric tons in 2020 to 119.5 metric tons in 2030. Transportation, construction, packaging and the electrical sectors will drive demand and account for 75 percent of the total metal required.
The plan on Friday pointed out that although China has abundant bauxite reserves, the resource quality is suboptimal, making it difficult to effectively meet the growing market demand.
In order to increase the supply of aluminum of good quality, the plan called for solid progress in the new round of mineral exploration, intensifying surveys and exploration of bauxite resources in key domestic metallogenic belts to identify new exploitable reserves.
It also outlined measures including promoting the recycling and utilization of aluminum resources, as well as advancing the construction of comprehensive utilization bases for bulk solid waste and industrial resources.
Efforts will also be made to promote clustered development of the aluminum processing industry, encouraging mergers and restructuring of production capacities, and guiding the exit of less competitive capacities.
The implementation plan also emphasized that by 2027, technological innovation capabilities should be significantly enhanced, with breakthroughs in key technologies such as low-carbon smelting and precision processing, as well as high-end new materials. It aims to foster new growth areas in aluminum consumption and meet the demands of major national projects and critical product models.
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