On the back of tightness in the supply of calcined coke and rising prebaked anode price, Xinjiang Qiya Aluminum & Electricity Co. has announced building of a captive prebaked anode project to feed its own plant.
The project involves an investment of 20 million yuan and would have an annual capacity of 200,000 tonnes. The company is also developing a residual heat recycling project, which could save 28,673.16 tonnes of raw coal annually. This is a significant development on the back of strict environmental scrutiny faced by petcoke producers in China.
In another update from SMM, Shanxi Chalco Huarun Co., an integrated metal and mining company with coal, power and aluminium production; has announced that they would commission an aluminium project at the end of September.
The project, which is a joint venture between Chalco and Huarun Power, will have an annual capacity of 500,000 tonnes.
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Trading in east China spot aluminium market was active on Friday on the back of SHFE aluminium rally. Suppliers held back goods out of optimism, while traders and downstream producers invested in metal.
Mainstream traded prices were RMB 15,970-15,990/tonne in Shanghai, RMB15,970-15,980 /tonne in Wuxi and RMB15,990-16,010/tonne in Hangzhou. Spot discounts ranged within RMB 110-100/tonne.
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