Xinjiang East Hope increases aluminum bar production
2023-04-11 10:51:19 [Print]
BEIJING (Asian Metal) 11 Apr 23 - Xinjiang East Hope Nonferrous Metal Co., Ltd., one major aluminum bar producer in Northwest China, increased their output from about 30,000t in February to nearly 50,000t in March.
"Our company resumed production in mid-February and then gradually achieved full capacity. Our aluminum bar output only reached about 30,000t in February due to the fewer production days, and went up to around 50,000t in March. We plan to produce almost 55,000t in April", a source from the company said, and added that they have eight production lines in operation now.
The producer, with an annual production capacity of 600,000t, owns eight production lines which are equipped with two 25-ton smelting furnaces each. They produced about 504,000t in 2022 and almost 80,000t in Q1 2023, holding no stock now.
On Monday, the mainstream TCs of Chinese aluminum bar 6063 φ120mm in warehouse Wuxi hovered at RMB370-410/t (USD54-60/t) EXW D/P, down by RMB70/t (USD10/t) from the last trading day. Given the declining market demand and increasing selling pressure on producers, insiders believe that the prevailing TCs of Chinese aluminum bar 6063 would go down in the coming week.
"Our company resumed production in mid-February and then gradually achieved full capacity. Our aluminum bar output only reached about 30,000t in February due to the fewer production days, and went up to around 50,000t in March. We plan to produce almost 55,000t in April", a source from the company said, and added that they have eight production lines in operation now.
The producer, with an annual production capacity of 600,000t, owns eight production lines which are equipped with two 25-ton smelting furnaces each. They produced about 504,000t in 2022 and almost 80,000t in Q1 2023, holding no stock now.
On Monday, the mainstream TCs of Chinese aluminum bar 6063 φ120mm in warehouse Wuxi hovered at RMB370-410/t (USD54-60/t) EXW D/P, down by RMB70/t (USD10/t) from the last trading day. Given the declining market demand and increasing selling pressure on producers, insiders believe that the prevailing TCs of Chinese aluminum bar 6063 would go down in the coming week.
