-
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
This week, Shanghai aluminum continued to fluctuate at a high level, and the social inventory of aluminum ingots fell to 742,000 tons, which was close to the pre-epidemic level, and the outbound volume fell
slightly month-on-month.
When the off-season comes, the supply of electrolytic aluminum accelerates, consumption shows signs of weakening, and bearish factors are superimposed, and it is still difficult
for the aluminum market to maintain the current rally in the long run.
On the supply side, 275,000 tons of new capacity were put into operation in May, but it will take time
to reach production.
Recently, the new production capacity of Chalco China Resources began to be put into operation, Yunnan Shenhuo Section II 150,000 tons of new production, Guangyuan Zhongfu Phase I was fully put into operation, Yunnan Wenshan Aluminum Industry new production capacity The first batch of aluminum ingot products came off the line, but the total amount rose slowly, and the average daily output of electrolytic aluminum in June was very limited, but if it continues to grow, the supply side will still face certain pressure
.
In terms of demand, the current domestic aluminum market demand is better, infrastructure, construction, etc.
continue to pull, downstream aluminum processing demand is still picking up, but soon into July, demand off-season pressure is gradually approaching, objectively, the domestic economic recovery brought about by consumption growth is still difficult to match the supply growth rate; In terms of exports, foreign demand orders and intermediate operating rates have decreased steadily, and overseas is currently in the stage of economic recovery, but the export increment driven by the improvement of external demand is still limited, and it is difficult for exports to perform
well.
In terms of inventory, domestic aluminum ingot social stocks decreased by 22,000 tons from June 11 to 742,000 tons, and destocking efforts are slowing down
.
At present, aluminum stocks have gone below 800,000 tons, and there is no clear accumulation signal, which will give some support to aluminum prices, and short-term aluminum prices remain strong
.
In the second quarter, the sustainability of the profit improvement of the electrolytic aluminum industry is strong, and Shanghai aluminum has risen by nearly 15% since March 23, if the market still maintains the rhythm of destocking, then aluminum prices will remain strong
.
If the pace of destocking slows down, coupled with the current high profits of aluminum companies, the continuous growth of electrolytic aluminum supply, whether the terminal consumption in the later period can usher in a real recovery, and the probability of a second outbreak of the epidemic at home and abroad, there is a possibility
of shock correction in aluminum prices in the long run.
