In the first half of this year, the aluminum industry maintained a momentum of rapid development. Product output, sales revenue, and profits increased steadily; imports of alumina and electrolytic aluminum declined, and export of processing materials increased; investment in aluminum smelting declined.
First, the basic situation of operation
(I) The output continues to grow. From January to June, the output of electrolytic aluminum was 4.3 million tons, an increase of 18.1% year-on-year; the alumina was 5.95 million tons, an increase of 50.6%; and the aluminum processing material was 3.57 million tons, an increase of 37.4%.
(II) Significant increase in economic benefits. In January-June, the revenue from the mining business of aluminum mining was 1.54 billion yuan, a year-on-year increase of 3.3 times; taxes increased by 5.6 times; profits decreased by 207.5%; and the main business revenue of the above-scale enterprises (352 companies) in the aluminum smelting industry increased by 60.6%. Taxes increased by 69.4%; profits increased by 1.48 times; common non-ferrous metal rolling processing owners' business income increased by 58%; taxes increased by 48.7%; and profits increased by 52.4%. As of the end of June, there were 67 loss-making enterprises in aluminum smelting, which fell by 26.4% year-on-year. The loss amounted to 410 million yuan, a decrease of 27%.
(3) The rate of production and sales declined, and accounts receivable and finished product inventories increased. From January to June, the production and sales ratio of non-ferrous metal smelting products (including electrolytic aluminum accounted for 47%) was 98.0%, which was 1.4% lower than the same period of last year. Aluminium smelting accounts receivable net 7.65 billion yuan, an increase of 33.8%; finished product inventory 6.08 billion yuan, an increase of 45.4%.
(d) The overall decline in import and export trade. From January to June, accumulatively imported non-wrought aluminum was 272,000 tons, a year-on-year decrease of 9.3%; aluminum was 330,000 tons, an increase of 10%; imported alumina was 3.33 million tons, a decrease of 10.1%; import exchanges reached 1.57 billion, an increase of 17.6. %. Cumulative export of unwrought aluminum 625,000 tons, down 20.0%; exports of 527,000 tons of aluminum, an increase of 62.3%.
(5) The increase in investment in fixed assets dropped. From January to June, the total investment of the aluminum smelting and processing industry was 92.84 billion yuan and 258 construction projects. There are 15 aluminum mining and construction projects. The planned investment for this year is 1.43 billion yuan. In the first half of the year, a total investment of 900 million yuan has been completed, an increase of 3.5 times year-on-year; 185 aluminum smelting construction projects have been planned. The planned investment for this year is 26.5 billion yuan, and the accumulated investment is 115.2 Billion yuan, a decrease of 1.8%.
Second, the growth mode has achieved remarkable results
(I) It is effective to stop blind investments and save energy and reduce consumption. The electrolytic aluminum industry cleaned up 23 violations, and the total capacity of the electrolytic aluminum projects that were suspended or postponed was 2.47 million tons. The energy consumption indicators such as raw aluminum direct current consumption and alumina comprehensive energy consumption have decreased significantly. According to estimates, the reduction in integrated AC power consumption in the first half of the year can save 250 million kilowatt-hours. In the electrolytic aluminium enterprises with low energy consumption levels, the primary aluminum AC power consumption is 1200 kWh/t lower than the national average. The aluminum oxide comprehensive energy consumption of China Aluminum Corporation has been reduced to 980 kg standard coal/ton, which is 16.9% lower than in 2001. The electrolytic aluminum export tax policy was adjusted, the alumina processing trade was stopped, and exports were restrained. Exports of unwrought aluminum in January-June 2006 decreased by 20.0% year-on-year.
(II) Obvious results have been achieved in structural adjustment and elimination of backwardness. Technical and economic indicators such as comprehensive aluminum product yield have improved significantly. Major progress was made in the merger and reorganization of enterprises. China Aluminum Corporation has successively controlled a number of key enterprises in the aluminum industry, such as the Fushun Aluminum Plant, through mergers and acquisitions. The newly added electrolytic aluminum production capacity was 1.36 million tons, and another five aluminum electrolytic products were being carried out in an orderly manner. The integration of enterprises involves 800,000 tons of production capacity. The self-roasting tank production process with high energy consumption and serious pollution is basically eliminated. Differential electricity prices have promoted technological progress and industrial upgrading. The Circular on Accelerating the Structural Adjustment of the Aluminum Industry issued jointly by the National Development and Reform Commission and other nine departments proposed the guiding principles and main objectives for structural adjustment of the aluminum industry. At present, all work has achieved significant progress.
(III) Substantial progress has been made in the comprehensive utilization of resources. Each year, 30 tons of semi-conductor raw materials are recovered from alumina production effluent, worth 80 million yuan. High-aluminum cement and insulation materials have been produced using waste generated from alumina. China Aluminum Corporation's exhaust gas waste heat power generation capacity has reached 3.2 billion kwh.
(d) Progress has been made in the development of overseas resources. Aluminum Corporation of China has made significant progress in alumina projects in Brazil, Vietnam and other countries.
Third, the main problems
(1) The number of smelting projects under construction is still too large. At present, there are 29 types of projects under construction in the alumina industry, of which 11 are newly started projects this year. Large quantities of alumina under construction and proposed projects have not been approved and do not have qualifications for start-up. Some bauxite resources are not implemented, or land use procedures are not fully prepared, and some have not even been demonstrated by environmental impact assessment. At present, 2 million tons of electrolytic aluminum production capacity has been completed and production capacity utilization is only about 78%, but there are 53 construction projects in the electrolytic aluminum industry. Although most of the electrolytic aluminum projects are continuing construction projects, most of them have not been constructed in accordance with the planning and layout requirements and have not been effectively approved.
(2) Indiscriminate mining of bauxite resources is serious, and the use of foreign resources is highlighted. China's proven bauxite reserves account for about 2.4% of the world's total, but annual production accounts for 10.3% of the world's total. There are 323 mining licenses for bauxite in the country, and as many as 779 mines (points). The mining order is chaotic. In terms of the use of foreign resources, the pricing mechanism for procurement and negotiation is still not perfect and lacks pricing power. It is common for bulls to buy aluminum oxide raw materials, and a number of companies negotiate investment with a foreign mine.
(3) The task of saving energy and reducing consumption is still arduous. As the price of electrolytic aluminum has turned upside-down (it has reached a historically high level in May). In order to achieve greater profits, companies are busy expanding production, and energy saving and consumption reduction work has lagged. In May, the comprehensive AC power consumption of aluminum ingots increased by 23 kWh/ton compared with April, an increase of 50 kWh/ton from March. According to the monthly output of 580,000 tons of electrolytic aluminum, the electricity consumption in May was 13.34 million kwh more than in April, and 29 million kwh more than in March.
Fourth, countermeasures
(I) Strengthen industrial policy guidance and speed up industrial restructuring. Implement the "Decision of the State Council on Issuing and Implementing the Interim Provisions for Accelerating Industrial Restructuring," "Industrial Policy for Aluminum Industry Development," and "Notice on Accelerating the Guidance of Aluminum Industry Structure Adjustment" to promote the adjustment of industrial structure and product structure. Support aluminum industry recycling economy and renewable aluminum industry development. Encourage the formation of internationally competitive enterprise groups through economic means and increase industrial concentration.
(II) Orderly development of aluminum smelting and development of high value-added aluminum processing materials. One is to clean up illegal alumina projects. All localities must strictly follow relevant regulations to clean up alumina projects under construction in their respective regions. For those alumina projects that do not conform to industrial policies, access conditions, and plans, and have not gone through the formalities for land use according to law, and have not submitted environmental impact reports for approval according to the requirements, all construction shall be suspended. For the alumina projects that have been completed and put into production, the competent local government authorities shall make explanations and inspections, and deal with them in accordance with laws and regulations; enterprises shall implement the bauxite resources and make up the relevant procedures for project establishment, land use, and environmental protection according to the regulations. The second is to do a good job of organizing the approved (nuclear) quasi-alumina projects. Accelerate the pace of project construction within the plan and the development of overseas resources. Alumina companies that have already approved (nuclear) quasi-construction projects must ensure that the projects under construction are in production as scheduled. Accelerate the assessment of bauxite resources, construction funds, and technical capabilities of alumina projects that have already been implemented, and promptly approve the investment management procedures. The third is to prevent the blind construction of electrolytic aluminum rebound. We will curb the planned construction of electrolytic aluminum projects and check the proposed projects one by one. Failure to comply with the planned layout will not allow construction. Strictly clean up projects under construction, and fail to comply with relevant policies and regulations, fail to go through land use procedures according to law, and fail to submit an environmental impact assessment report according to the requirements of the State Environmental Protection Administration. All construction projects with capital ratios that do not meet regulatory requirements shall be ceased. The fourth is to increase the development of high value-added aluminum processing wood products. Focus on the development of high value-added products such as high-precision aluminum plates, belts, foils, and rail transit large-scale profiles; and promote new high-efficiency, low-cost, low-energy-consuming, short-flow, environmentally-friendly aluminum processing technologies. Study and formulate conditions for access to the aluminum processing industry. For aluminum processing enterprises whose construction profile product quality fails to meet relevant standards or produce inferior products, the quality inspection department will not issue production licenses.
(c) Further improve import and export policies. Broaden the import of alumina channels, guarantee the supply of raw materials, and form a better negotiation pricing mechanism. We will strengthen supervision over the export of electrolytic aluminum, prohibit the alumina processing trade, and adjust the temporary export tax rate in due course.
(D) increase energy conservation efforts. Guide the electrolytic aluminum enterprises to save energy and reduce consumption, and achieve the goal of reducing annual energy consumption per unit of GDP by 4%. The use of economic and policy measures to rationally allocate resources and improve the differential pricing policy for electrolytic aluminum enterprises of encouraged and restricted categories.
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