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Shandong Nanshan Aluminum Co

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About Shandong Nanshan Aluminum Co

Shandong Nanshan Aluminium Co is a manufacturer of aluminium alloy. The company is based in Longkou, Shandong.

Headquarters Location

Nanshan Village, Dongjiang Town

Longkou, Shandong,

China

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Latest Shandong Nanshan Aluminum Co News

Shandong Nanshan Aluminium : Surging aluminium prices squeezing fabricators' profits, says Nanshan chairman

Oct 14, 2021

08/26 04/26 10/14/2021 | 02:57am EDT Message : *Required fields TAIYUAN, China, Oct 14 (Reuters) - Aluminium processors inChina face slimmer profits this year due to surging metalprices, Shandong Nanshan Aluminium Co Ltd's chairmansaid on Thursday. Prices of aluminium, used in products from food cans toaeroplanes, have jumped over 50% so far this year on strongdemand and output cuts due to an energy crisis and flooding inChina, the world's top maker of the metal. "Aluminium prices have jumped significantly ... (and)increasing freight charges, price spreads and exchange rates areall having a big impact on processors," Lu Zhengfeng, chairmanof the Shandong-based firm told a conference at Antaike's ChinaInternational Aluminium Week. The most-traded November aluminium contract on the ShanghaiFutures Exchange leaped on Wednesday to its highestsince May 2006 at 24,165 yuan ($3,752.80) a tonne. Three-month aluminium on the London Metal Exchangesurged to $3,118.50 a tonne on Wednesday, a level not seen sinceJuly 2008. Lu expects revenues at fabricators this year to be weakerthan in 2020 and for them to face an even harder time afterOctober. "The upstream high aluminium prices have already transmittedto fabricators, and fabricators have to transfer the costs tothe downstream sector," he said, adding it was uncertain whetheraluminium end-users would accept that. Electricity prices have reached record highs in recentweeks, driven by power shortages across Asia and Europe, withChina's crisis expected to last through to the end of the yearand crimp growth in the world's second-largest economy. Power-intensive aluminium smelting is expected to be one ofthe worst hit metal sectors alongside steel. "Aluminium smelting is seven times more power intensive thancopper smelting, so aluminium is really the sector that gets hitpretty hard," said Eoin Dinsmore, CRU's head of primaryaluminium and products at a webinar on Tuesday. China's state reserve bureau has sold 280,000 tonnes ofaluminium so far this year in an effort to ease prices, but Lusaid the sales volume was "too small" and would not have a bigimpact. State-backed research house Antaike forecast the Chinesealuminium market to switch to a deficit of 200,000 tonnes in2022 from a surplus of 180,000 tonnes this year, and projectedChinese state reserve sales of 300,000 tonnes next year. ($1 = 6.4392 yuan)(Reporting by Min Zhang in Taiyuan and Mai Nguyen in HanoiEditing by Mark Potter)

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Shandong Nanshan Aluminum Co Frequently Asked Questions (FAQ)

  • Where is Shandong Nanshan Aluminum Co's headquarters?

    Shandong Nanshan Aluminum Co's headquarters is located at Nanshan Village, Dongjiang Town, Longkou.

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