echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > Shanghai aluminum fluctuates at a high level, and prices still have a basis for rushing higher

    Shanghai aluminum fluctuates at a high level, and prices still have a basis for rushing higher

    • Last Update: 2022-12-23
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    Shanghai aluminum high volatility in the first few days of last week, benefiting from the improvement of real estate financing data, the stock market and black led the rise on Friday led aluminum prices to rebound sharply, closing at 19350 yuan / ton on the 12th, a weekly increase of 3.
    59%.

    Shanghai aluminum

    On the supply side, the interference of production restriction policy is still there, from late August to early September, Xinjiang, Guangxi and Yunnan have successively introduced policies to reduce electrolytic aluminum production, Guangxi further increased in mid-September, Guizhou encouraged electrolytic aluminum enterprises to stagger peak production in mid-to-late September, and Qinghai, Ningxia and Guizhou limited production
    in October.
    Inner Mongolia, Guangdong, Guangxi, Jiangsu and other places to raise the price of electricity in high-energy-consuming industries, other provinces and cities electricity prices will also be gradually raised, electrolytic aluminum comprehensive electricity price rise, alumina prices fall, the total cost of electrolytic aluminum falls, enterprises turn losses into profits, supply is relatively stable
    .

    On the demand side, the State Council prohibits one-size-fits-all power cuts, coupled with more pullbacks in aluminum prices, the downstream operating rate continues to rise, demand recovers, the current real estate policy is mainly stable, pessimistic expectations are repaired, real estate completion or will be good
    .

    In terms of stocks, social stocks decreased by 06,000 tons month-on-month to 1.
    007 million tons, and stocks may turn to dematerialization
    .

    On the whole, many places canceled preferential electricity prices, sharply increased trading electricity prices, winter is coming, thermal coal demand is good, prices may stabilize, alumina prices fall, main auxiliary material prices rise, electrolytic aluminum costs slightly decreased, but overall maintained a high level
    .
    On the demand side, the relaxation of power curtailments and falling prices boosted consumption, but demand recovery was slow, considering the loosening of policies in the real estate industry, which may help aluminum prices continue to rise above cost, continue to pay attention to changes in the social treasury; In the medium and long term, the logic of supply-side reduction has not changed, and once demand stabilizes significantly, aluminum prices still have a basis for
    soaring.

    This article is an English version of an article which is originally in the Chinese language on echemi.com and is provided for information purposes only. This website makes no representation or warranty of any kind, either expressed or implied, as to the accuracy, completeness ownership or reliability of the article or any translations thereof. If you have any concerns or complaints relating to the article, please send an email, providing a detailed description of the concern or complaint, to service@echemi.com. A staff member will contact you within 5 working days. Once verified, infringing content will be removed immediately.

    Contact Us

    The source of this page with content of products and services is from Internet, which doesn't represent ECHEMI's opinion. If you have any queries, please write to service@echemi.com. It will be replied within 5 days.

    Moreover, if you find any instances of plagiarism from the page, please send email to service@echemi.com with relevant evidence.