Asian Metal News
Xinhengfeng, East Hope’s primary aluminium smelter in Baotou IM, is set to bring its Phase II aluminium project (250 ktpy) and associated captive power plant (2 x 350 MW) online by end-July. Once the power plant is operational, the company’s electricity costs will be reduced to RMB 0.28/kWh, lower than the grid-based electricity costs of RMB 0.35/kWh.
Xinhengfeng has been designed with primary aluminium capacity of 500 ktpy, of which 250 ktpy is presently operational. The company produced 77 kt of primary aluminium during 2018, after starting up in August 2018. Its 2019 output is estimated at 350 kt.
Mainstream aluminium ingot transaction prices were RMB 13,800~13,900/t at Shanghai warehouses this Tuesday, an increase of RMB 40/t on Monday.