Shijin Metal Material raises secondary aluminum alloy ingot output
2024-04-08 09:34:52 [Print]
BEIJING (Asian Metal) 8 Apr 24 - Guangdong Shijin Metal Material Co., Ltd., one of the major secondary aluminum alloy ingot producers in South China, raised secondary aluminum alloy ingot output to 2,500t or so in March.
"Owing to the Spring Festival holiday, we only kept production for less than one week in February with a total output of only 300t during the month. In March, our operating rate recovered to a normal level and our secondary aluminum alloy ingot output rose to about 2,500t," a source from the company said, adding that they only operate three 30-ton smelting furnaces at the moment.
Owning three 60-ton smelting furnaces and three 30-ton smelting furnaces with a total production capacity of 60,000tpy, the company had an output of about 22,500t in 2023, and holds about 800t of stocks now.
Mainstream prices for Chinese aluminum alloy ingot ADC12 stood at RMB19,600-19,800/t (USD2,710-2,737/t) delivered D/P late last week, stable from the previous trading day. Insiders expect that prices of Chinese aluminum alloy ingot ADC12 would go down in the coming week as producers bear great pressure of stocks now caused by few orders from downstream customers.
"Owing to the Spring Festival holiday, we only kept production for less than one week in February with a total output of only 300t during the month. In March, our operating rate recovered to a normal level and our secondary aluminum alloy ingot output rose to about 2,500t," a source from the company said, adding that they only operate three 30-ton smelting furnaces at the moment.
Owning three 60-ton smelting furnaces and three 30-ton smelting furnaces with a total production capacity of 60,000tpy, the company had an output of about 22,500t in 2023, and holds about 800t of stocks now.
Mainstream prices for Chinese aluminum alloy ingot ADC12 stood at RMB19,600-19,800/t (USD2,710-2,737/t) delivered D/P late last week, stable from the previous trading day. Insiders expect that prices of Chinese aluminum alloy ingot ADC12 would go down in the coming week as producers bear great pressure of stocks now caused by few orders from downstream customers.
