Jinfeng Metal resumes secondary aluminum alloy ingot production
2024-04-25 11:36:16 [Print]
BEIJING (Asian Metal) 25 Apr 24 - Jiangxi Jinfeng Metal Products Co. Ltd., one of major secondary aluminum alloy ingot producers in Central China, restarted the operation of a 35-ton smelting furnace and expects to produce about 2,500t of secondary aluminum alloy ingot in April.
"As the shortage of aluminum scrap, the raw material, is relieved, we restarted the operation of a smelting furnace in early April. We might increase the aluminum alloy ingot output from about 1,500t in March to about 2,500t in April," a source from the company said, adding that they operate two 35-ton smelting furnaces currently.
With an annual production capacity of 50,000t, the company produced about 21,000t in 2023 and about 3,900t in the first quarter of this year. They hold about 800t of stocks now.
On Wednesday, mainstream prices for Chinese aluminum alloy ingot ADC12 stood at RMB19,800-20,000/t (USD2,733-2,760/t) delivered D/P, unchanged from Tuesday. Insiders reckoned that prices for Chinese aluminum alloy ingot ADC12 would move down in the coming week due to the current weak demand for secondary aluminum alloy ingot.
"As the shortage of aluminum scrap, the raw material, is relieved, we restarted the operation of a smelting furnace in early April. We might increase the aluminum alloy ingot output from about 1,500t in March to about 2,500t in April," a source from the company said, adding that they operate two 35-ton smelting furnaces currently.
With an annual production capacity of 50,000t, the company produced about 21,000t in 2023 and about 3,900t in the first quarter of this year. They hold about 800t of stocks now.
On Wednesday, mainstream prices for Chinese aluminum alloy ingot ADC12 stood at RMB19,800-20,000/t (USD2,733-2,760/t) delivered D/P, unchanged from Tuesday. Insiders reckoned that prices for Chinese aluminum alloy ingot ADC12 would move down in the coming week due to the current weak demand for secondary aluminum alloy ingot.
