As one of the key state-owned key players in China's non-ferrous metals industry, China Aluminum Corporation has accelerated its layout in the Chinese copper processing market. On the 7th, Chinalco Shanghai Copper Industry Co., Ltd. unveiled a brand in the Chinese aluminum non-aluminum business strategic planning added a highlight.
According to Xiao Yaqing, general manager of China Aluminum Corporation, as a holding subsidiary of Chinalco, Chinalco Shanghai Copper Co., Ltd. has a registered capital of RMB 1.22 billion and is one of the largest copper strip manufacturers in China. Its goal is to become the leading domestic and international first-class production base for copper products, copper processing technology R&D centers and non-ferrous processing materials logistics trade centers.
The shareholders who jointly initiated the establishment of this company with China Aluminum, including Shanghai Yidian Holdings (Group) Co., Ltd., Shanghai Nonferrous New Materials (Group) Co., Ltd., Shanghai Changjiang Non-ferrous Metals Spot Market and Shanghai Hummer Investment Management Co., Ltd.
It is understood that after the establishment of China Aluminum Shanghai Copper Co., Ltd., it will give priority to the development of copper strips based on the original copper processing and trading of Shanghai Nonferrous Metals (Group) Co., Ltd., and steadily develop copper alloy rods and electrolytic copper foils. Develop copper alloy pipes and gradually eliminate backward productivity.
As an important step in this development, the 7th China Aluminum Shanghai Copper Co., Ltd. laid the foundation for the high-precision strip expansion project. It is reported that this project has invested nearly 1.1 billion yuan and the construction scale is 70,000 tons/year. After the completion of the project, the production scale of copper strips of Chinalco Shanghai Copper Co., Ltd. will increase from the current annual output of 50,000 tons to 120,000 tons.
Kang Yi, president of the China Nonferrous Metals Industry Association, said that with the sustained and stable economic development, China’s copper production and demand have continued to expand. In 2006, China’s copper production exceeded 3 million tons for the first time, ranking first in the world. At the same time, as the world’s largest producer and producer of copper, China is also facing the dilemma of shortage of copper resources. High-end copper processing materials rely heavily on imports. Kang Yi believes that the establishment of Chinalco Shanghai Copper Company is expected to alleviate this situation to some extent.