Chinese major secondary aluminium alloy maker, Ye Chiu Metal Recycling (China) will list its shares on Shanghai Stock Exchange (SSE) within a next few months. Ye Chiu Metal Recycling (China) Group will issue 105 million shares. The leading manager will be Huatai Securities. This is regarded as the first stock listing by Chinese secondary aluminium alloy maker on SSE. Ye Chiu Metal Recycling (China) plans to raise funds through equity in order to accelerate business expansion in China, Japan and Southeast Asia.Ye Chiu Metal Recycling (China) presently operates two plants in China and Malaysia. Taicang plant in Jiangsu Province, China is one of the world largest secondary aluminium alloy factories with output capacity at 26,000 tonnes per month. The plant exports secondary aluminium alloy to Japan at 10,000-12,000 tonnes per month. The plant continues full capacity operation to meet strong demand both in domestic and offshore markets. Johor plant in Malaysia also continues full production at 7,000 tonnes per month along with the steady demand in Southeast Asia. Ye Chiu Metal Recycling (China) projects construction of a new plant in Taicang City or South China. The production capacity is planned at 600,000 tonnes per year, a half in the first phase and the rest in the second phase. It is expected to become the world largest secondary aluminium alloy plant as of the completion. The new plant will supply die casting alloy, casting alloy and aluminium melt. Ye Chiu Metal Recycling (China) plans to invite car makers near the new plant and to supply aluminium melt. The firm strengthens fund raising capability by stock listing and progresses the new plant project. The firm also eyes operative expansion in Southeast Asia and sales share increase in Japan.
LME Settlement prices05/22/2013
Japan Steel Scrap Composite Prices (Sangyo Press)05/10/2013
|22100YEN (-200)||25300YEN (-200)|
|US$216.75 (-1.96)||US$248.14 (-1.96)|
* Average of Tokyo, Osaka and Nagoya prices
* What is Japan Steel Scrap Composite Prices