China aluminum smelters losing money

Aluminum output in China, the world's biggest producer, will expand in 2005 at the slowest pace in five years because of higher power prices and government measures to curb investment and exports, the Standard of Hong Kong reported. Output may rise 10% to 7.4m metric tons from 6.7m tons last year, according to Wang Gongmin, deputy chairman of the China Nonferrous Metals Industry Association. About two-thirds of the nation's aluminum smelters lost money in the first half of the year and more may lose money in the second half, Wang said.