|
|
| |
|
|
Six Chinese firms to form JV for commercial aluminium stockpiling- 2016 China(Guangzhou)Non-Ferrous Metals Exhibition
1/14/2016 non-ferrous metals expo |
--------------------------------------------------------------------------------------------------------------- |
|
Reuters reported that a report by state-backed research firm Antaike said on Tuesday that six large Chinese aluminum producers in China are considering forming a joint venture company that will handle primary aluminum stockpiling
The six companies, four state-owned firms and two private enterprises, include
Aluminium Corp of China (Chinalco)
State Power Investment Corporation
Yunnan Aluminium
Jiugang group
Jinjiang group
Weiqiao Aluminium & Electricity
The amount that the joint venture company will stockpile has not been decided, according to the report.
An aluminum stockpiling plan has been discussed over the past few weeks after aluminum prices fell to multi-year lows in the second half of last year, and is likely to be funded by commercial loans, sources have said. The stockpiling amount is expected to be between one and two million tonnes.
The JV group may not need to stockpile as much as anticipated as production cuts currently in place are reducing supply, said Ms Xu Hongping, an analyst at China Merchants Futures. She said "If they stockpile 500,000 tonnes in the first half of this year, the Chinese market may have a supply deficit.¡±
-non-ferrous
metals- 2016 China(Guangzhou)Non-Ferrous Metals Exhibition |
|
|
|
|
