Aluminum prices fell slightly, and the peak season is expected to continue to be postponed

On the supply side, after the high temperature is eased, the power rationing aluminum plants in Sichuan, Henan and other places restart the load plan, Yunnan may face a round of dry water power pressure, Gansu Liancheng, Geely Bai Mine, Guangtou Yinhai new production rhythm has not been affected, Gansu Zhongrui, Guangyuan Zhongfu and other new projects are approaching full production
.
Overseas energy pressures remain, with Hydro's two aluminum plants in Slovakia and Norway cutting production by 185,000 tons, and Alcoa shutting down its
200,000-tonne-per-year aluminum smelter in Norway.

On the demand side, high temperature power cuts have eased, and enterprises in East China and Southwest China have accelerated the pace
of resumption of production.
During the week, the weekly operating rate of downstream leading processing enterprises increased by 0.
7% to 66.
1%.

The operating rate of many sectors increased steadily, of which the weekly operating rate of aluminum foil rose by 1.
4% to 82.
7%, the operating rate of recycled aluminum alloy increased by 1.
2% to 49.
1%, the operating rate of aluminum plate and strip increased by 1% to 80%, the operating rate of aluminum profiles rose by 0.
7% to 65.
9%, the operating rate of aluminum cable companies remained stable at 59% last week, and the primary aluminum alloy remained stable at 60%; The processing fee of aluminum rod in various places is mixed, Henan Linyi lowered 20-120 yuan / ton to remain stable, Xinjiang Guangdong Wuxi Baotou increased by 100-230 yuan / ton; The aluminum rod processing fee is increased by 75-100 yuan / ton across the board; Aluminum alloy fell steadily, ADC12 and A380 down 200-250 yuan / ton, A356 and ZLD102/104 down 550-800 yuan / ton
.

In terms of inventory, in terms of exchange inventory, the LME destocked 04,100 tons to 276,100 tons last week, and Shanghai aluminum destocked 501 tons to 204,100 tons
.
In terms of social stocks, alumina accumulated 05,000 tons to 183,000 tons last week; aluminum ingots accumulated 04,000 tons to 683,000 tons last week; aluminum rods accumulated 02,500 tons to 132,500 tons
last week.

Sichuan Daystar and other aluminum plants have resumed production one after another, some aluminum plants have not fully opened the device due to power conditions, and it will still take 2-3 months
for the province's supply to fully recover.
Following Sichuan, it is rumored that Yunnan also has a problem of power shortage in the dry period recently, and the advantageous electricity price space in the southwest region during the flood period is no longer available, and the pace of domestic supply has gradually slowed down
under cost pressure.
The willingness to purchase downstream is not high, the outbreak of scattered epidemics and regional closed management have formed strong interference with transportation, and the peak season of gold, silver and ten is expected to continue to be postponed, and the overall trend is towards a weak pattern of supply and demand
.
It is expected that aluminum prices will fluctuate in a wide range in the near future, and pay attention to the subsequent impact
of Southwest Power on costs and supply.