Asian Metal News
Sichuan Qimingxing Aluminium, designed with 125 ktpy primary aluminium capacity comprising 168 sets of 300 kA electrolytic cells, began production cuts last Friday. The company is set to halt 15 cells during April and will suspend 30 cells further if market performance remains bleak during the month.
The company produced 10 kt of primary aluminium in March with its April output targets set at 9 kt. The company typically sells liquid aluminium to the local market, but currently holds 10 kt aluminium ingot in stock.
Qimingxing is reliant on on-grid power supply for electricity, at RMB0.3/kWh. The company produced 125 kt of aluminium in 2019 and its 2020 output is expected to drop slightly on-year.
Mainstream aluminium ingot (99.7% min) transaction prices were RMB 11,500/t on the local market last Thursday, falling from RMB13,000/t at the beginning of March.
