Henan Zhongfu: First phase capacity to be put into production in June in Sichuan
2020-05-14 18:05:36 [Print]
On May 12, Henan Zhongfu Industrial Co., Ltd (hereinafter referred to as Henan Zhongfu) held its 2019 annual general meeting of shareholders in Gongyi city, Henan province. Relevant person in charge of the primary aluminum capacity transfer reported, "The first phase of 250,000 tons of primary aluminum capacity transferred to Guangyuan will be put into production in June, and the second phase is expected to start production in July."
Henan Zhongfu has an integrated industrial chain of "coal-electricity-aluminum-aluminum deep processing", in which the capacity of primary aluminum and aluminum deep processing is 750,000tpy and 700,000tpy respectively. Due to environmental protection pressure and high electricity price, Henan Zhongfu began to transfer part of its primary aluminum capacity to Guangyuan city, Sichuan province from the end of 2018.
Henan Zhongfu's primary aluminum production capacity was owned by its subsidiaries Linfeng Aluminum and Power Co., Ltd. (hereinafter referred to as Linfeng Aluminum and Power) and Henan Zhongfu Aluminum Co., Ltd. (hereinafter referred to as Zhongfu Aluminum) with 250,000tpy and 500,000tpy for each. In September 2019, Zhongfu Aluminum replaced 250,000 tons of primary aluminum production capacity to Guangyuan Zhongfu High Grade Aluminum Material Co., Ltd. (hereinafter referred to as Guangyuan Zhongfu). But as Guangyuan Zhongfu became a joint-stock company of Henan Zhongfu subsequently due to equity transfer, the 250,000 tons capacity were no longer consolidated in accounting statement.
The source indicated that the first phase of primary aluminum capacity transfer refers to the transfer of Linfeng Aluminum and Power's capacity, which was performed by two stages. The first stage of 125,000 tons capacity transferred in November last year has been put into production, and the second stage of 125,000 tons would be put into production in June this year. The second phase of the project is about the 250,000 tons capacity of Zhongfu Aluminum which would be transferred to Guangyuan Zhongfu and it would be carried out in three stages; The first stage would start production in July.
Henan Zhongfu has an integrated industrial chain of "coal-electricity-aluminum-aluminum deep processing", in which the capacity of primary aluminum and aluminum deep processing is 750,000tpy and 700,000tpy respectively. Due to environmental protection pressure and high electricity price, Henan Zhongfu began to transfer part of its primary aluminum capacity to Guangyuan city, Sichuan province from the end of 2018.
Henan Zhongfu's primary aluminum production capacity was owned by its subsidiaries Linfeng Aluminum and Power Co., Ltd. (hereinafter referred to as Linfeng Aluminum and Power) and Henan Zhongfu Aluminum Co., Ltd. (hereinafter referred to as Zhongfu Aluminum) with 250,000tpy and 500,000tpy for each. In September 2019, Zhongfu Aluminum replaced 250,000 tons of primary aluminum production capacity to Guangyuan Zhongfu High Grade Aluminum Material Co., Ltd. (hereinafter referred to as Guangyuan Zhongfu). But as Guangyuan Zhongfu became a joint-stock company of Henan Zhongfu subsequently due to equity transfer, the 250,000 tons capacity were no longer consolidated in accounting statement.
The source indicated that the first phase of primary aluminum capacity transfer refers to the transfer of Linfeng Aluminum and Power's capacity, which was performed by two stages. The first stage of 125,000 tons capacity transferred in November last year has been put into production, and the second stage of 125,000 tons would be put into production in June this year. The second phase of the project is about the 250,000 tons capacity of Zhongfu Aluminum which would be transferred to Guangyuan Zhongfu and it would be carried out in three stages; The first stage would start production in July.
Aluminum Ingot 99.7%min In warehouse Wuxi
Unit:RMB/mt
China primary aluminum producers' inventory statistics by province by month
Unit: mt
