LME Aluminum to Drifter Lower (2017-5-5)

The Vietnam Dak Nong aluminum project, constructed by China Nonferrous Metal Industry’s Foreign Engineering and Construction Co., Ltd. (NFC) as the general contractor, has achieved first aluminum tapping from all 110 electrolysis cells in Phase I, marking the full completion and commissioning of Phase I and the official transition from startup to stable operation. In terms of contract performance progress, the project achieved first aluminum tapping on July 14 this year, 51 days ahead of the contractual milestone; on September 15, all 110 electrolysis cells in Phase I achieved aluminum tapping, a further 78 days ahead of the contractual milestone, setting a new record for the execution of large-scale aluminum EPC projects in Southeast Asia. In terms of project management, since the commencement of power-on and baking, NFC’s project management team has strengthened coordinated control of schedule and quality, achieving zero major safety or quality incidents throughout the entire power-on—baking—tapping process, a 100% first-time success rate in trial runs, and first-time success in the baking and startup of all electrolysis cells, fully demonstrating NFC’s strong capabilities in engineering and construction management. As a landmark project of China-Vietnam capacity cooperation, the high-quality completion and commissioning of Phase I will strongly boost the development of the local aluminum industry and inject new momentum into deepening China-Vietnam economic and trade cooperation and achieving mutual benefit and win-win outcomes.

[ADC12 Price Daily Review: Spot ADC12 Offers Stable; Watch Stockpiling Sentiment Ahead of Dual Festivals] The most-traded AD2611 cast aluminum alloy contract opened at 23,820 yuan/mt today, hitting the intraday high right at the open. It then drifted lower, bottoming at 23,620 yuan/mt at 10:00 before stabilizing and rebounding. After rebounding to 23,710 yuan/mt at 10:45, it pulled back again and closed at 23,670 yuan/mt in the morning session, up 110 yuan, or 0.47%, from yesterday's settlement price of 23,560 yuan/mt.