Xinjiang East Hope cuts aluminum bar production
2020-11-13 10:57:12 [Print]
BEIJING (Asian Metal) 13 Nov 20 - Xinjiang East Hope Nonferrous Metal Co., Ltd., a major aluminum bar producer in Xinjiang, suspended the operation of three aluminum bar production lines in early November, which will cause their aluminum bar output in November to decline by about 44% from the previous month.
A source from the company revealed that the company has eight aluminum bar production lines, each with two 25-ton smelting furnaces. Six production lines were in operation in October. As the demand for aluminum bar continued to fall, they suspended the operation of three aluminum bar production lines in early November and now only run three lines. "Now we are not sure when to resume production and it will depend on the downstream demand," the source said, predicting that treatment charges (TCs) for Chinese aluminum bar 6063 would keep fluctuating at a low level in the coming week as the demand for aluminum bar continues to decline now.
With an annual production capacity of 500,000t, the producer produced 200,000t in 2019 and expects to produce 260,000t in 2020. They produced about 190,000t in the first ten months of this year, including about 36,000t in October. They might produce about 20,000t in November and now hold about 800t of stocks.
TCs for aluminum bar 6063 φ120mm in warehouse Wuxi were marked down by RMB10/t (USD1.51/t) to RMB220-260/t (USD33.28-39.44/t) EXW D/P this Monday.
A source from the company revealed that the company has eight aluminum bar production lines, each with two 25-ton smelting furnaces. Six production lines were in operation in October. As the demand for aluminum bar continued to fall, they suspended the operation of three aluminum bar production lines in early November and now only run three lines. "Now we are not sure when to resume production and it will depend on the downstream demand," the source said, predicting that treatment charges (TCs) for Chinese aluminum bar 6063 would keep fluctuating at a low level in the coming week as the demand for aluminum bar continues to decline now.
With an annual production capacity of 500,000t, the producer produced 200,000t in 2019 and expects to produce 260,000t in 2020. They produced about 190,000t in the first ten months of this year, including about 36,000t in October. They might produce about 20,000t in November and now hold about 800t of stocks.
TCs for aluminum bar 6063 φ120mm in warehouse Wuxi were marked down by RMB10/t (USD1.51/t) to RMB220-260/t (USD33.28-39.44/t) EXW D/P this Monday.
Aluminum Bar TC 6063 120mm In warehouse Foshan
Unit:RMB/mt
China aluminum bar producers' inventory statistics by province by month
Unit: mt
