Asian Metal News
Chongqing Qineng Aluminium smelter, designed with 330 ktpy capacity is set to cut operations gradually, starting from April 2020.
The company, with 296 sets of 420 kA cells, halted 10 cells this week. According to an inside source, the company is facing a loss of RMB 1,000/t for every tonne of aluminium produced on slumping aluminium prices and if the market continues to perform poorly in the short-term, it will have to cut operations further in April.
Qineng produced 27.5 kt of primary aluminium in March and its April output is expected at 26.5 kt. The company typically sells liquid aluminium on the local market, but currently holds 20 kt aluminium ingot in stock.
Qineng takes its electricity supply from its captive power plants at RMB0.3/kWh.
Mainstream aluminium ingot (A00) prices stand at RMB11, 300/t delivered, down from RMB13, 000/t at the beginning of March.
