-
Categories
-
Pharmaceutical Intermediates
-
Active Pharmaceutical Ingredients
-
Food Additives
- Industrial Coatings
- Agrochemicals
- Dyes and Pigments
- Surfactant
- Flavors and Fragrances
- Chemical Reagents
- Catalyst and Auxiliary
- Natural Products
- Inorganic Chemistry
-
Organic Chemistry
-
Biochemical Engineering
- Analytical Chemistry
-
Cosmetic Ingredient
- Water Treatment Chemical
-
Pharmaceutical Intermediates
Promotion
ECHEMI Mall
Wholesale
Weekly Price
Exhibition
News
-
Trade Service
Shanghai aluminum fell back to a low level before the holiday and rebounded
after the holiday.
During the National Day period, the US dollar rose, forming a certain resistance
to the further rise of overseas aluminum prices.
Domestically, affected by the dual-control policy on energy consumption, the supply of aluminum market continued to contract, and the price of raw materials alumina and thermal coal rose, the production cost of electrolytic aluminum was raised, and the support below the aluminum price was strong
.
However, at present, domestic electrolytic aluminum has accumulated, and the fourth batch of reserve aluminum is about to enter the market, and it is expected that social inventory will be in a state of accumulation for a long time
.
From a fundamental point of view, the supply-side limited situation is difficult to solve, the current total production of electrolytic aluminum is reduced by 3 million tons, and according to the survey of Baichuan Yingfu, the theoretical production reduction value of 448,000 tons in Xinjiang has not yet landed, and Qinghai and Ningxia will also reduce production after November, or will cause a reduction
of about 850,000 tons of annualized production capacity.
In terms of demand, the peak season is expected to be disappointed, the demand on the consumer side is weak, the main consumer real estate in previous years is insufficient, and the orders for construction profiles continue to decline, but with the arrival of the State Grid delivery date, the demand for aluminum pole wire is relatively sufficient
.
In terms of inventory, due to the November holiday, poor downstream demand and transportation, it continued to accumulate, and as of October 8, the social treasury reached 862,000 tons
.
Overseas, destocking was smooth, with LME stocks at 1.
1708 million tonnes, the lowest level
in more than six months.
On the cost side, heavy rain in Shanxi has led to the suspension of open-pit bauxite production, and alumina companies have resumed work on hold, or continue to push up alumina prices, in addition to electricity costs are also expected to rise, electrolytic aluminum companies' previously high profits will continue to be compressed
.
On the whole, the supply side is limited and difficult to change, and there are expansion expectations, the demand side is weak but the elasticity is stronger than the supply, but the post-holiday storage superposition continues to accumulate, and it may still be dominated by high volatility in the short term
.
