China's aluminium makers are targeting the global auto and aerospace markets, a move that industry sources say will heat up competition with the likes of Alcoa and Constellium, and potentially ignite a buying spree for Western metals companies. Arconic expects to grow its automotive sheet revenue around sixfold, to $1.3 billion in 2018 from $229 million in 2013. The Chinese government has been trying to boost domestic demand by encouraging companies to invest in new plants and equipment as part of its "Made in China 2025" plan. In August, Zhongwang USA, backed by Chinese aluminium magnate Liu Zhongtian, said it was to buy aluminium maker Aleris Corp in a $2.3bn deal, which would mark the largest entry by a Chinese company into the US aluminium sector.
China's aluminium makers are targeting the global auto and aerospace markets, a move that industry sources say will heat up competition with the likes of Alcoa and Constellium, and potentially ignite a buying spree for Western metals companies. The Chinese government has been trying to boost domestic demand by encouraging companies to invest in new plants and equipment as part of its "Made in China 2025" plan. In August, Zhongwang USA, backed by Chinese aluminium magnate Liu Zhongtian, said it was to buy aluminium maker Aleris Corp in a $2.3bn deal, which would mark the largest entry by a Chinese company into the US aluminium sector.