Kanghong Industry and Trade increases secondary aluminum alloy ingot production
2024-04-19 11:36:37 [Print]
BEIJING (Asian Metal) 19 Apr 24 - Liquan Kanghong Industry and Trade Co., Ltd., one of major secondary aluminum alloy ingot producers in Northwest China, expects to increase its output to about 2,700t in April.
"Our company operates all the three smelting furnaces in April and expects the output of aluminum alloy ingot to increase to around 2,700t in April. We didn't resume production until March 13, so the aluminum alloy output was only about 1,300t in March," a source from the company said, adding that they plan to suspend the operation of one smelting furnace in late April because of the tight supply of aluminum scrap, the raw material.
With an annual production capacity of 60,000t and three 35-ton smelting furnaces, the company produced about 24,000t in 2023 and holds about 650t of stocks now.
Last Thursday, mainstream prices for Chinese aluminum alloy ingot ADC12 stood at RMB19,850-20,050/t (USD2,741-2,769/t) delivered D/P, stable from last trading day. Insiders said that the price of primary aluminum might rebound after bottoming out in the coming week, which is expected to drive up the price of Chinese aluminum alloy ingot ADC12 in the week to come.
"Our company operates all the three smelting furnaces in April and expects the output of aluminum alloy ingot to increase to around 2,700t in April. We didn't resume production until March 13, so the aluminum alloy output was only about 1,300t in March," a source from the company said, adding that they plan to suspend the operation of one smelting furnace in late April because of the tight supply of aluminum scrap, the raw material.
With an annual production capacity of 60,000t and three 35-ton smelting furnaces, the company produced about 24,000t in 2023 and holds about 650t of stocks now.
Last Thursday, mainstream prices for Chinese aluminum alloy ingot ADC12 stood at RMB19,850-20,050/t (USD2,741-2,769/t) delivered D/P, stable from last trading day. Insiders said that the price of primary aluminum might rebound after bottoming out in the coming week, which is expected to drive up the price of Chinese aluminum alloy ingot ADC12 in the week to come.
