Xiongchuang Aluminum Alloy increases secondary aluminum alloy ingot production
2024-03-13 10:03:49 [Print]
BEIJING (Asian Metal) 13 Mar 24 - Anhui Xiongchuang Aluminum Alloy New Material Co., Ltd., one of major secondary aluminum alloy ingot producers in East China, expects their aluminum alloy ingot output to increase to around 5,000t in March.
"In March, we returned to our normal operation status of five smelting furnaces in operation, while in February we ran only three furnaces and we also suspended operation for some time for the Spring Festival holiday leave. We produced only about 1,500t in February and expect to increase the output to around 5,000t in March," a source from the company said, adding that they own seven smelting furnaces and normally run five furnaces with the other two as stand-by equipment.
With an annual production capacity of 150,000t, the company produced about 48,000t in 2023 and holds about 700t of aluminum alloy ingot stocks for the moment.
On Tuesday, mainstream prices for Chinese aluminum alloy ingot ADC12 stood at RMB19,500-19,700/t (USD2,715-2,743/t) delivered D/P, the same as last Friday. Considering that market demand for secondary aluminum alloy ingot is soft and consumers prefer to wait on the sidelines, insiders believe that prices for Chinese aluminum alloy ingot ADC12 might move down by RMB100/t (USD13.92/t) in the following week.
"In March, we returned to our normal operation status of five smelting furnaces in operation, while in February we ran only three furnaces and we also suspended operation for some time for the Spring Festival holiday leave. We produced only about 1,500t in February and expect to increase the output to around 5,000t in March," a source from the company said, adding that they own seven smelting furnaces and normally run five furnaces with the other two as stand-by equipment.
With an annual production capacity of 150,000t, the company produced about 48,000t in 2023 and holds about 700t of aluminum alloy ingot stocks for the moment.
On Tuesday, mainstream prices for Chinese aluminum alloy ingot ADC12 stood at RMB19,500-19,700/t (USD2,715-2,743/t) delivered D/P, the same as last Friday. Considering that market demand for secondary aluminum alloy ingot is soft and consumers prefer to wait on the sidelines, insiders believe that prices for Chinese aluminum alloy ingot ADC12 might move down by RMB100/t (USD13.92/t) in the following week.
