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Last week, the aluminum price fluctuated on the 20,000 line, closing at 20,665 yuan / ton on the 2nd, a weekly decline of 0.
53%.
Last week, Shanghai ushered in the eve of full resumption of work, after the Dragon Boat Festival in East China epidemic lockdown was completely lifted, the operating rate of many sectors rose gratifyingly, the profile sector basically returned to the normal level, sea freight has recently weakened, overseas export orders have increased, the gap between weak reality and strong expectations will be steadily narrowed, and demand is expected to usher in a small peak
.
It is expected that aluminum prices will maintain a volatile finishing trend and continue to pay attention to domestic spot inventory
.
On the supply side, the pace of new domestic production began to slow down gradually in
June.
In addition to Yunnan Hongtai, there is still 100,000 tons of new production capacity put into operation, and there is no news
of new plans for enterprises in other provinces and cities.
In terms of resumption of production, Guangxi Bai Mine and Guangxi Suyuan will provide 100,000 tons and 50,000 tons of production capacity respectively, and Gansu Chalco Liancheng will also successfully resume production of 120,000 tons, with a total of about 220,000 tons of resumption of production capacity to be invested
.
On the demand side, downstream demand showed an accelerated recovery, and the weekly operating rate of downstream leading processing enterprises continued to rise by 4.
6% to 66.
3%
this week.
The operating rate of aluminum profiles increased by 3% to 69%, the operating rate of aluminum cables increased by 0.
6% to 58%, the operating rate of aluminum foil increased by 1.
4% to 81%, the operating rate of recycled aluminum alloy fell by 0.
6% to 49.
4%, the operating rate of aluminum plate and strip remained stable at 81%, and the operating rate of primary aluminum remained stable at 60%; Aluminum rod processing costs have risen steadily, Henan Linyi Wuxi has remained stable, Xinjiang Baotou Guangdong Wuxi has been raised by 100-130 yuan / ton; Aluminum rod processing fees were mixed, Inner Mongolia remained stable, Shandong Guangdong fell 50 yuan / ton, Henan rose 50 yuan / ton; Aluminum alloy pullback across the board, ADC12 and A380 reduced by 400 yuan / ton, A356 and ZLD102/104 reduced by 250-300 yuan / ton
.
In terms of inventory, in terms of exchange inventory, the LME destocked 28,000 tons to 453,600 tons last week, and Shanghai aluminum destocked 06,400 tons to 279,100 tons
.
In terms of social stocks, alumina was destocked 70,000 tons to 202,000 tons during the week; aluminum ingots were destocked 54,000 tons to 882,000 tons during the week; and aluminum rods were destocked from 35,000 tons to 134,000 tons
during the week.
In terms of the market, Foshan aluminum ingot warehouse receipt repeated pledge malignant event fermentation, causing capital hedging and spot selling risk, warehouse reduction in various places increased, the current impact of the event is significant but there is occasional is not universal, in the short term there is a greater impact on the domestic spot market, the subsequent will return to the fundamental logic
.
