Hongcheng Aluminum maintains secondary aluminum alloy production equipment
2024-03-05 10:52:50 [Print]
BEIJING (Asian Metal) 5 Mar 24 - Jiangxi Hongcheng Aluminum Co., Ltd., one of the major secondary aluminum alloy ingot producers in Central China, completed the maintenance of a set of secondary aluminum alloy production equipment on February 25 and expects to produce about 2,800t of aluminum alloy ingot in March.
"Our company began to suspend production and maintain two sets of furnaces at the end of January. On February 25, we completed the maintenance of one set and resumed production, while the other set is currently under maintenance and is planned to be completed in mid-April. We expect to produce around 2,800t of aluminum alloy ingot in March, higher than about 300t in February", a source from the company said, adding that they only operate one furnace set and the other set is on standby under normal circumstances.
The company has an annual production capacity of 200,000t and two sets of furnaces. It saw an output of about 386,000t in 2023 and produced around 3,300t in January-February 2024, holding no inventory of aluminum alloy ingot for the moment.
On Monday, mainstream prices for Chinese aluminum alloy ingot ADC12 stood at RMB19,300-19,500/t (USD2,681-2,709/t) delivered D/P, up by RMB100/t (USD13.89/t) from last Friday. Insiders noted that the current market of raw material aluminum scrap is in short supply and demand from downstream consumers picks up, and expect that prices for Chinese aluminum alloy ingot ADC12 would rise by RMB100/t (USD13.89/t) in the following week.
"Our company began to suspend production and maintain two sets of furnaces at the end of January. On February 25, we completed the maintenance of one set and resumed production, while the other set is currently under maintenance and is planned to be completed in mid-April. We expect to produce around 2,800t of aluminum alloy ingot in March, higher than about 300t in February", a source from the company said, adding that they only operate one furnace set and the other set is on standby under normal circumstances.
The company has an annual production capacity of 200,000t and two sets of furnaces. It saw an output of about 386,000t in 2023 and produced around 3,300t in January-February 2024, holding no inventory of aluminum alloy ingot for the moment.
On Monday, mainstream prices for Chinese aluminum alloy ingot ADC12 stood at RMB19,300-19,500/t (USD2,681-2,709/t) delivered D/P, up by RMB100/t (USD13.89/t) from last Friday. Insiders noted that the current market of raw material aluminum scrap is in short supply and demand from downstream consumers picks up, and expect that prices for Chinese aluminum alloy ingot ADC12 would rise by RMB100/t (USD13.89/t) in the following week.
