Shanxi Huaxing Aluminium starts high-temperature digestion line, aluminium and other raw material prices to stay bullish
Shanxi Huaxing Aluminum Co. has commissioned high-temperature Digestion line for Bayer alumina production. The line will have the capability of processing 1 million tonnes of diasporic bauxite per year, the largest in the world. Chinese companies are also investing in alumina projects around the world to secure the supply of this prime raw material for its smelters. Jiuquan Iron & Steel (Group) Co. has bought Jamaica’s Alpart alumina refinery which will restart production commercially very soon.
According to SMM, aluminium prices will remain in upward track if China steps up capacity cuts and environmental crackdowns. Growing environmental pressure has forced many smelters in Henan and Shandong provinces to close lifting aluminium prices from RMB 14,000 /tonne to about RMB 16,000 /tonne.
Beijing, Tianjin and Hebei have also started environmental crackdowns. SMM observes that SHFE 1711 aluminium still has room to rise and will range RMB 16,700-17,000/mt today. Due to tightness in supply of calcined coke caused by environmental crackdown, prebaked anode prices are expected to stay high boosting aluminium prices in near and long term.
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