Inner Mongolia Zhongyu Magnesium Industry debugs wheels project
2018-03-27 17:52:48 [Print]
Inner Mongolia Zhongyu Magnesium Industry Co., Ltd. is debugging the final spinning process of the wheels project and plans to put it into production in late May.
The company invested RMB7.35 billion to build the magnesium alloy wheels and lightweight auto section projects with annual capacity of 6 million magnesium alloy wheels and 250,000t of high performance magnesium alloy sections. In specific, the magnesium alloy wheels project cost RMB4.31 billion and the first phase would produce 1.2 million wheels with investment of RMB896 million. The lightweight auto section project cost RMB3.04 billion with RMB750 million for the first phase of 50,000tpy capacity. For now, the company has finished the civil work and facility installation of the production line for 300,000 wheels and 10,000t of sections with the No. 1 smelting factory producing magnesium bars.
"The market outlook of our project is quite optimistic and our products are in short supply. We received orders for about 150,000 wheels from car manufacturers this year based on preliminary statistics," Lu Shuizhong, Vice-President of the company said.
The company invested RMB7.35 billion to build the magnesium alloy wheels and lightweight auto section projects with annual capacity of 6 million magnesium alloy wheels and 250,000t of high performance magnesium alloy sections. In specific, the magnesium alloy wheels project cost RMB4.31 billion and the first phase would produce 1.2 million wheels with investment of RMB896 million. The lightweight auto section project cost RMB3.04 billion with RMB750 million for the first phase of 50,000tpy capacity. For now, the company has finished the civil work and facility installation of the production line for 300,000 wheels and 10,000t of sections with the No. 1 smelting factory producing magnesium bars.
"The market outlook of our project is quite optimistic and our products are in short supply. We received orders for about 150,000 wheels from car manufacturers this year based on preliminary statistics," Lu Shuizhong, Vice-President of the company said.
Magnesium Alloy AZ91D FOB China
Unit:USD/mt
China magnesium alloy producers' sales volume statistics by month
Unit: mt
