China's Mingtai shrugs off US aluminium sheet probe
Henan Mingtai Aluminum, one of China's biggest aluminium sheet manufacturers, on Tuesday said it expected its production and sales to keep growing in 2018 despite the launch of US trade probes into imports of the product from China.
Mingtai, with a production capacity of 650 000 tonnes per year of semi-finished aluminium products, is the first Chinese firm to make a public statement about the twin anti-subsidy and anti-dumping probes into Chinese aluminum alloy sheet announced by Washington last month.
China's Ministry of Commerce has already expressed "strong disatisfaction" over the action amid rising trade friction between the Trump administration and Beijing.
While pledging to cooperate with the investigations, Mingtai said that any allegations that Chinese aluminium sheet was being sold at an "unfair price" and benefiting from government subsidies did "not match the facts".
Exports account for only 25 percent of the company's total sales, Mingtai said in response to questions on a Shanghai Stock Exchange investor platform, and go to over 50 countries. The company is therefore not reliant on the United States market, it said.
Mingtai also produces aluminium foil, another product that has been hit with punitive tariffs in the United States.
However, the company noted that the latest probe does not include aluminium plate, in which it said it had a new 200 000 tonnes per year production line that would be gradually brought on stream, helping to boost sales next year.
Comments
The
functionality
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation