Guosen Securities maintained its investment rating on heat-free aluminum alloy materials
Integrated die-casting has spawned demand for heat-free aluminum alloys, and head recycled aluminum enterprises are welcoming development opportunities
On July 15, 2022, Guosen Securities released a research report that with the continuous large-scale of die castings, heat treatment may cause deformation of such large and thin-walled die castings, and the difficulty of subsequent shaping and scrap rate will be greatly increased. Therefore, it is necessary to develop heat-free aluminum alloy materials suitable for large, thin-walled die-castings, so that the material does not need heat treatment, and can meet the mechanical properties requirements under casting conditions, and its development and application have gradually become a research hotspot in recent years, and integrated die-casting has spawned the demand for heat-free aluminum alloys.
Foreign Alcoa companies and Rheinfeld of Germany have long studied heat-free aluminum and have mature alloy grades, and the vehicle company Tesla has also applied for a series of heat-free alloy grades and used in the production of structural parts. Domestic enterprises are also actively developing heat-free treatment materials suitable for large-scale thin-walled die-castings, and currently have relevant patents for both die-casting manufacturers such as Guangdong Hongtu, as well as recycled aluminum producers such as Lizhong Group, Ruige Metal, Yongmaotai, etc., and universities such as Shanghai Jiaotong University. In addition, many companies are actively researching and developing, sending samples, and applying for patents.
The research report pointed out that the head recycled aluminum enterprises ushered in development opportunities. The head recycled aluminum enterprise has the advantage of multi-point layout. Large integrated die castings are not convenient for long-distance transportation, and the freight is expensive, and the die casting machine is often located around the whole vehicle. Only multi-point layout of aluminum alloy material enterprises can be closer to downstream customers, achieve multi-customer coverage, and save material transportation costs.
Yongmaotai has been deeply engaged in the entire industry chain of casting aluminum alloy for nearly 20 years, and has formed a business pattern with "aluminum alloy + auto parts" as the main business and integrated development of upstream and downstream. The aluminum alloy ingots and aluminum alloy liquid products produced by the company have been supplied to high-quality customers such as Pierburg, Colburn, FAW Casting, Suzhou Sandian, Changan Mazda and so on for many years. The company's existing aluminum alloy production capacity is 227,000 tons, and the expanded production capacity will be put into production soon. It has certain scale advantages and first-mover advantages in the recycled aluminum industry.
Yongmaotai has in-depth cooperation with customers to carry out the direct supply business of molten aluminum, that is, the local supply of liquid aluminum alloy in the customer's production plant, saving the energy consumption of secondary melting, consolidating customer relations, and achieving a win-win situation. At present, in addition to adopting the direct supply mode of aluminum liquid in its own parts factory, Yongmaotai has also cooperated with customers to build three direct supply bases for aluminum liquid in Shanghai Colburn, Anhui Pierburg and Chengdu FAW Casting. The direct supply mode of molten aluminum saves the cost of transportation and secondary smelting, and has cost advantages.
In 2012, the company and Shanghai Jiaotong University jointly developed high-strength and tough die-casting aluminum alloy materials, this Al-Si-Mn-Mg series die-casting aluminum alloy by adding the reinforcing element Zn, and using Sr/rare earth composite metamorphic agent to deteriorate, improve its structure, in the die-casting non-heat treatment state can obtain yield strength of 160MPa, tensile strength of 270MPa, elongation of 7% both die-casting aluminum alloy and good die-casting performance, in 2019 applied for an invention patent. Authorized in 2020, the product is used in Volkswagen engine oil pans, and has been supplied in large quantities for many years since 2013.
At present, the company is independently developing or cooperating with universities and downstream auto parts customers to develop high thermal conductivity aluminum alloy materials, heat-free high-strength and high-toughness aluminum alloy materials, heat-free high-elongation aluminum alloy materials, high-strength integrated die-casting aluminum alloy materials, the product has higher elongation, tensile strength, yield strength and other comprehensive properties are good, some materials are in the stage of sample delivery and trial production to auto parts customers. The company has excellent performance of heat-free alloys, and has the ability of the whole industry chain, and has competitive advantages in materials and processes.
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