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12-06-2012 18:32:00

Rio Tinto Alcan CEO Upbeat On Chinese Growth Outlook

Relateret indhold

NEW YORK--Rio Tinto Alcan Chief Executive Jacynthe Cote is positive on China's economic outlook and the country's demand for alumina, she said Tuesday at the American Metal Market Aluminum Summit.

"I can't prevent myself from being pretty positive about China," Ms. Cote said.

China's recent decision to cut benchmark interest rates indicates that Beijing will "continue tracking their growth in a very responsible way," she said.

"China is still going to grow at near 8%," she said.

"Alumina demand will be [up] around 9% this year...It's growing in single digits, but from a much larger base" than 10 years ago, she said.

Rio Tinto Alcan, which is operated by Rio Tinto PLC (RIO, RIO.LN), accounts for about a quarter of all bauxite imports into China, Ms. Cote said.

Over the next 10 years, 70% of aluminum supply growth will come from China and more than 20% will come from the Middle East.

Write to Tatyana Shumsky at tatyana.shumsky@dowjones.com

(END) Dow Jones Newswires

June 12, 2012 12:32 ET (16:32 GMT)

Copyright (c) 2012 Dow Jones & Company, Inc.

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