The rapid development of aluminum prices has pushed domestic aluminum enterprises onto the tide, and the performance of the head company has generally increased in 2021, and production expansion has also become the main focus of the industry.
On April 15, the pace of capacity expansion and follow-up planning were also the most discussed topics at the 2021 performance meeting of Tianshan Aluminum (000877.SZ). Deputy general manager Li Ya responded that there are three new profit growth points this year. "Alumina production will increase with the commissioning of Jingxi Tiangui Phase II and III project, and high purity aluminum production is expected to be 35000 tons this year, a substantial increase over last year." the production of pre-baked anodes will also increase. "
However, due to the repeated drag of the epidemic, some of the company's projects have been delayed. According to Liang Hongbo, deputy general manager, the Tiangui alumina project in Jingxi, Guangxi was originally planned to start production at the beginning of this year. Due to the epidemic situation in Guangxi at the beginning of the year, the company postponed the production date. The second phase was put into production in March, and the third phase is scheduled to be put into production by the end of April.
Referring to the relevant research minutes, we know that the core competitiveness of aluminum enterprises in the upper reaches of the industrial chain lies in aluminum resources and electricity price costs. Tianshan Aluminum's main producing area of electrolytic aluminum is located in Xinjiang, and the local coal price is much lower than that in the mainland. The company's management said to the outside world that the price of thermal coal from the company to the plant is about 350 yuan / ton. Similarly, 000807.SZ also benefits from Yunnan's cheap hydropower resources.
It is worth noting that although Tianshan Aluminum Industry has a layout in the production chain of bauxite, alumina, pre-baked anode, power generation, electrolytic aluminum, high purity aluminum and aluminum deep processing, its bauxite producing area is far from the electrolytic aluminum production base. According to the public information, some of its bauxite is supplied from Guangxi and some is imported from Guinea.
At present, Jingxi Tiangui, a wholly owned subsidiary of the company, has two bauxite exploration rights in Guangxi, so whether the processed alumina will be transported to Xinjiang for further processing into electrolytic aluminum is also a question for some investors. In this regard, Liang Hongbo responded that whether the company's alumina is shipped directly to Xinjiang depends on the market situation. If the supply of alumina in the market is tight, the alumina will be transported to Xinjiang for self-use, and if the market supply is loose, we will sell it locally in Guangxi.
The inland Xinjiang of electrolytic aluminum base also makes some investors "discouraged" from Tianshan aluminum industry. Some senior investors told that in the third quarter of last year, they began to be optimistic about the rising prosperity of the aluminum industry, weighed the major listed companies, and finally selected Yunnan Aluminum shares based on the advantages of mineral, electricity price and location. "I think aluminum is mainly for export logic. Yunnan is relatively close to the port, its own aluminum ore is very rich, Xinjiang is still too far away, freight and cycle are problems."
