Asian Metal visits Jinjiang Group, China-base and Jiaming Imp & Exp

On the morning of March 10, Mr. Friday Gao, senior analyst of Asian Metal visited Jinjiang Group and met with Mr. Pi Jianqing, vice general manager of the Group. They talked about the bauxite, alumina and aluminum ingot markets.

The Group focuses on bauxite imports from Malaysia and also buys some from India, Guinea and Australia. They own aluminum ingot plants in Inner Mongolia and Ningxia with annual capacity of 1 million tonnes and 300,000t. Mr. Pi is optimistic about the aluminum ingot price and believes that the price may rise to RMB14,500-15,000/t again in the second half of this year, as China will issue new policies on aluminum ingot industry to restrict new capacity.

In the afternoon, Mr. Friday Gao visited China-Base Ningbo Foreign Trade Co., Ltd. and talked bauxite market with Ms. Yoko Dai and Mr. Ian Fang, marketing managers of the company.

According to Ms. Yoko, freight cost from Malaysia to China rose to around USD10-11/t, so the bauxite prices from Malaysia climbed up a bit.

In the afternoon, Mr. Friday Gao also visited Ningbo Jiaming Imp & Exp Co., Ltd. a trader of nickel ore. Before 2014, they focused on Indonesian nickel ore. Mr. Dong Xianjie, general manager of the company disclosed that Indonesia may resume nickel ore export in April, so they plan to resume the business.