Brief review of Shanghai aluminum on April 12

In the industry, on April 08, the domestic electrolytic aluminum social inventory was 1.
233 million tons, with no increase
or decrease.
As of early March, the national electrolytic aluminum operating capacity reached 39.
68 million tons, the effective built production capacity was 43.
54 million tons, and the operating rate of electrolytic aluminum enterprises was 91.
1%.

In terms of raw materials, from the perspective of cost, alumina production increased significantly year-on-year, prices are still running at a low level, pre-baked anode manufacturers have strong raw material support, and prices have risen as scheduled; Inner Mongolia energy consumption dual control continuous fermentation compression electrolytic aluminum production capacity
.

On the demand side, aluminum die-casting companies are facing cost pressure, the current demand is still just bargain hunting, raw material inventory levels are low, the automotive industry due to the "lack of cores", the production of parts of the enterprise orders have decreased
.

On the whole, the expected narrowing of supply brought about by carbon neutrality continues to have an impact, consumption expectations are better, the inflection point of inventory has arrived, and the rumor of dumping storage is unresolved as the current risk point
.
Under the high profit of electrolytic aluminum, beware of the pressure brought by the supply side, short-term aluminum prices are still difficult to have excellent performance, continue to pay attention to the early 1.
72-17,600 range
.
It is expected that tomorrow's spot aluminum may stop falling, and downstream companies can
buy it on demand.