State Grip Corp.'s grid development plan to increase metals demand
Beijing. April 19. INTERFAX-CHINA - State Grid Corp. of China (SGCC), the country's largest state-owned grid operator, will invest RMB 300 billion ($45.92 billion) in grid construction projects this year, thereby pushing up China's metals consumption, a senior SGCC executive said at an April 17 conference in Beijing.
SGCC's grid development plan will necessitate 5 million tons of steel products, including between 1.12 million and 1.25 million tons of copper, and 1.6 million tons of aluminum, said Li Jun, director of planning at the company's research institute, at the China Nonferrous Metals Industry Development Forum.
On April 18, the copper spot price on the Shanghai Yangtze River Nonferrous Metals Market stood between RMB 71,200 ($10,899) and RMB 71,550 ($10,953) per ton, and the aluminum spot price between RMB 16,600 ($2,541) and RMB 16,630 ($2,545) per ton. The steel spot price, meanwhile, stood at RMB 4,470 ($684.31) per ton on the spot trading platform Xiben Steel.
- KHM