Zhongxin Aluminum increases secondary aluminum alloy ingot production

BEIJING (Asian Metal) 19 Mar 24 - Yongzhou Zhongxin Aluminum Co.Asian Metal Copyright Considering that downstream demand has recovered to normal levels while aluminum scrap supply is tight, insiders believe that prices of Chinese aluminum alloy ingot ADC12 would stay firm in the coming week.Asian Metal Copyright, Ltd.Asian Metal Copyright "We suspended production on February 2 for the Spring Festival holiday leave and resumed production on February 17 with only five furnaces in operation that month, while in March we put six furnaces in operation and expect to produce around 7,000t of aluminum alloy ingot in March," a source from the company said, adding that they had an output of only around 3,500t in February.Asian Metal Copyright, one of major secondary aluminum alloy ingot producers in Central China, plans to increase its output to around 7,000t in March.

"We suspended production on February 2 for the Spring Festival holiday leave and resumed production on February 17 with only five furnaces in operation that month, while in March we put six furnaces in operation and expect to produce around 7,000t of aluminum alloy ingot in March," a source from the company said, adding that they had an output of only around 3,500t in February.

With an annual production capacity of 100,000t, the producer produced about 45,000t in 2023 and holds about 400t of aluminum alloy ingot stocks for the moment.

On Monday, mainstream prices for Chinese aluminum alloy ingot ADC12 stood at RMB19,500-19,700/t (USD2,709-2,737/t) Delivered D/P, unchanged from last Friday. Considering that downstream demand has recovered to normal levels while aluminum scrap supply is tight, insiders believe that prices of Chinese aluminum alloy ingot ADC12 would stay firm in the coming week.

.Asian Metal Copyright Asian Metal Copyright