Xiangrong Aluminum starts six new furnaces for aluminum bar production
2023-03-07 11:47:55 [Print]
BEIJING (Asian Metal) 7 Mar 23 - Guangxi Xiangrong Aluminum Technology Co., Ltd., one major aluminum bar producer in South China, plans to put six new furnaces in operation this month and predicts an output of about 53,000t of aluminum bar in March.
"Discouraged by poor demand, our six new smelting furnaces haven't commenced commercial production since completion in the fourth quarter of 2022. We only have ten furnaces in operation now, and plan to launch two new furnaces this week and four next week, when we will reach full capacity", a source from the company said, and added that they produced about 36,000t in February.
The company, with an annual production capacity of 720,000t, produced nearly 367,000t in 2022 and plans to produce almost 700,000t in 2023, holding no stock now.
On Monday, the mainstream TCs of Chinese aluminum bar 6063 φ120mm hovered at RMB560-600/t (USD81-87/t) EXW D/P, up by RMB10/t (USD1.44/t) from the last trading day. Given the currently active purchase from downstream customers, insiders believe that the prevailing TCs of Chinese aluminum bar 6063 would go up in the coming week.
"Discouraged by poor demand, our six new smelting furnaces haven't commenced commercial production since completion in the fourth quarter of 2022. We only have ten furnaces in operation now, and plan to launch two new furnaces this week and four next week, when we will reach full capacity", a source from the company said, and added that they produced about 36,000t in February.
The company, with an annual production capacity of 720,000t, produced nearly 367,000t in 2022 and plans to produce almost 700,000t in 2023, holding no stock now.
On Monday, the mainstream TCs of Chinese aluminum bar 6063 φ120mm hovered at RMB560-600/t (USD81-87/t) EXW D/P, up by RMB10/t (USD1.44/t) from the last trading day. Given the currently active purchase from downstream customers, insiders believe that the prevailing TCs of Chinese aluminum bar 6063 would go up in the coming week.
