Save
PrintChina has started the plan to purchase 500,000 tons of electrolytic aluminum in central Henan Province for state reserve, the China Nonferrous Metals Industry Association (CNMIA) announced in its report Thursday.
Henan's electrolytic aluminum and alumina output in the first quarter decreased 33.3 percent and 16.7 percent, respectively, from the same period last year, the report quoted a CNMIA source as saying.
Its electrolytic aluminum output this year is estimated to stay moderately lower or keep unchanged from last year, due to the oversupplied market both at home and abroad.
An unnamed official with CNMIA predicted in the report that the province's newly added electrolytic aluminum output would not exceed 800,000 tons in the rest seven months this year.
The government's purchase plan will not exert much impact on the domestic market even if the earlier 300,000-ton aluminum ingot purchase in Yunnan Province is taken into account, the official added.
According to the report, Henan Wanji Aluminum Co. had won a credit commitment of 2.47 billion yuan from eight banks by collateralizing 80,000 tons of aluminum ingots.
(www.chinamining.org)
Copyright © 2013 Ferro-Alloys.Com. All Rights Reserved. Without permission, any unit and individual shall not copy or reprint!
- [Editor:editor]
Daily News
Research
Magazine
Company Database
Customized Database
Conferences
Advertisement
Trade
Online inquiry
Contact
Tell Us What You Think