Longquan Aluminum to increase alumina consumption volume
2021-02-23 08:34:37 [Print]
BEIJING (Asian Metal) 23 Feb 21 - Henan Yugang Longquan Aluminum Co., a major aluminum smelter in China, is scheduled to use around 100,000t of alumina in March, up by around 10,000tpm, a source from the company reported to Asian Metal.
"We would use around 100,000t in March, up from around 90,000t in February," said the source, explaining that they would restart one aluminum plant with the production capacity of 240,000tpy from early March. The monthly alumina consumption volume would reach around 120,000t from this May, noted the source, who now keeps around 20,000t in stock and purchases alumina mostly by long-term contracts.
Based on the annual consumption capacity of 1.7 million tons, they used around 1.14 million tons of alumina in 2020, little changed year-on-year.
Current mainstream alumina prices in China keep at RMB2,350-2,400/t (USD364-371/t) EXW, unchanged from two weeks ago. Most buyers came back from the Chinese Spring Festival holiday late last week and spot deals remains quiet now.
"We would use around 100,000t in March, up from around 90,000t in February," said the source, explaining that they would restart one aluminum plant with the production capacity of 240,000tpy from early March. The monthly alumina consumption volume would reach around 120,000t from this May, noted the source, who now keeps around 20,000t in stock and purchases alumina mostly by long-term contracts.
Based on the annual consumption capacity of 1.7 million tons, they used around 1.14 million tons of alumina in 2020, little changed year-on-year.
Current mainstream alumina prices in China keep at RMB2,350-2,400/t (USD364-371/t) EXW, unchanged from two weeks ago. Most buyers came back from the Chinese Spring Festival holiday late last week and spot deals remains quiet now.
Alumina 98.5%min EXW Shanxi
Unit:RMB/mt
China alumina producers' inventory to production ratio statistics by province by month
Unit: %
