Asian Metal News
Chalco Shanxi New Materials, designed with 420 ktpy primary aluminium capacity, is set to cut its capacity by 140 ktpy in 2020.
The company ran at full capacity in 2018, cut back by 70 ktpy thanks to a bleak market in 2019 and is currently operating at 350 ktpy capacity. According to an internal source, the company will cut an additional 140 ktpy of primary aluminium capacity and relocate 210 ktpy to Yunnan in 2020 – the date of the cut is as yet undecided.
The company produced 350 kt of primary aluminium in 2019, mainly in the form of liquid aluminium, however they will produce 3,000 t of aluminum ingot during the Chinese New Year period (24~31 January 2020).
Mainstream aluminium ingot transaction prices were RMB14,460~14,560/t at Shanghai warehouses last Friday, an increase of RMB230/t on the previous day’s trade.
