APALT Reports Weak Growth on Auto Sluggishness-Shanghai Metals Market

Hot Keywords

  • Inventory data
  • Stainless steel
  • Copper
  • Rare earths
  • Nickel
  • Aluminium
  • Market commentary
  • Zinc
  • Macroeconomics
  • Iron ore
  • Nickel ore
  • Tin
  • Evening comments
  • Production data
  • Morning comments

APALT Reports Weak Growth on Auto Sluggishness

Industry News 05:30:57PM May 02, 2012 Source:SMM

SHANGHAI, May 2 (SMM) – Annual report of Jiangsu-based APALT, an aluminum alloy producer, shows operating revenues grew 14.34% YoY to RMB 1.299 billion last year, while net profits only increased 1.98% to RMB 123.58 million, as margin ratio dropped from 23.44% a year earlier to 19.27%. The weak growth is mainly due to sluggish performance of the auto sector in which most APALT clients operate.

APALT’s aluminum semis capacity expanded from 43,700 mt to 58,500 mt in 2011. A more than 45% expansion is expected this year after an approximately 20,000 mt/yr high performance aluminum alloy project and a 7,000 mt/yr seamless alloy pipe project enter production at the year end, which would bring its total aluminum semis capacity to 85,500 mt/yr.
 

APALT Reports Weak Growth on Auto Sluggishness

Industry News 05:30:57PM May 02, 2012 Source:SMM

SHANGHAI, May 2 (SMM) – Annual report of Jiangsu-based APALT, an aluminum alloy producer, shows operating revenues grew 14.34% YoY to RMB 1.299 billion last year, while net profits only increased 1.98% to RMB 123.58 million, as margin ratio dropped from 23.44% a year earlier to 19.27%. The weak growth is mainly due to sluggish performance of the auto sector in which most APALT clients operate.

APALT’s aluminum semis capacity expanded from 43,700 mt to 58,500 mt in 2011. A more than 45% expansion is expected this year after an approximately 20,000 mt/yr high performance aluminum alloy project and a 7,000 mt/yr seamless alloy pipe project enter production at the year end, which would bring its total aluminum semis capacity to 85,500 mt/yr.