Zhengyuan New Material to increase aluminum alloy ingot production
2024-03-12 09:22:12 [Print]
BEIJING (Asian Metal) 12 Mar 24 - Henan Zhengyuan New Material Technology Co., Ltd, one of major secondary aluminum alloy ingot producers in Central China, plans to increase its aluminum alloy ingot production to around 4,500t in March.
"We produced only about 2,200t in February owing to leave for the Spring Festival holiday. Now in March we already resumed production and expect to have an output of at least 4,500t this month," a source from the company said, expecting their output in April to be the same as in March.
With an annual production capacity of 150,000t, the company formally launched production in February 2023 and produced a total of about 41,500t in 2023. They hold around 200t of aluminum alloy ingot stocks now.
On Monday, mainstream prices for Chinese aluminum alloy ingot ADC12 stood at RMB19,500-19,700/t (USD2,716-2,743/t) delivered D/P, unchanged from last Friday. Considering that most downstream consumers hold a watchful attitude toward the market, insiders believe that prices for Chinese aluminum alloy ingot ADC12 might edge down in the following week.
"We produced only about 2,200t in February owing to leave for the Spring Festival holiday. Now in March we already resumed production and expect to have an output of at least 4,500t this month," a source from the company said, expecting their output in April to be the same as in March.
With an annual production capacity of 150,000t, the company formally launched production in February 2023 and produced a total of about 41,500t in 2023. They hold around 200t of aluminum alloy ingot stocks now.
On Monday, mainstream prices for Chinese aluminum alloy ingot ADC12 stood at RMB19,500-19,700/t (USD2,716-2,743/t) delivered D/P, unchanged from last Friday. Considering that most downstream consumers hold a watchful attitude toward the market, insiders believe that prices for Chinese aluminum alloy ingot ADC12 might edge down in the following week.
