14 MAY 2013Shanghai Metal Market
Aluminum smelters in Guangxi to resume production
Edited by : AL CIRCLE
1 min read
Guangxi Laibin Yinhai Aluminum (250,000 mt/yr in aluminum capacity) and Guangxi Baise Yinhai Aluminum (200,000 mt/yr in aluminum capacity), both of which are subsidiaries of Guangxi Investment Group, will likely resume production soon due to electricity price subsidies. The two companies’ total capacity now in operation is 60,000 mt/yr and 100,000 mt/yr, respectively, but both producers have cut a total of 290,000 mt/yr in capacity as of the end of April since aluminum prices remain depressed.
Guangxi Investment Group reached a preliminary agreement with the local government for a discount of RMB 0.15/kwh for electric power. The group is also seeking long-term preferential power price policies. Its two subsidiaries will bring 290,000 mt/yr in idled aluminum capacity back online before the end of August provided electricity price negotiations go smoothly.
Guangxi Investment Group reached a preliminary agreement with the local government for a discount of RMB 0.15/kwh for electric power. The group is also seeking long-term preferential power price policies. Its two subsidiaries will bring 290,000 mt/yr in idled aluminum capacity back online before the end of August provided electricity price negotiations go smoothly.
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