Domestic inventories are still accumulating Aluminum prices may still continue to fall

According to data, a total of 624,200 new energy passenger vehicles were sold worldwide in September, a year-on-year increase of 96.
08%, and the boom in new energy vehicle consumption has greatly boosted
the consumption terminal of aluminum.
In the first three quarters, China's cumulative imports of electrolytic aluminum were 1.
119 million tons, an increase of 46% year-on-year, and the import of electrolytic aluminum eased the market situation
of imbalance between supply and demand under the condition that domestic electrolytic aluminum enterprises successively limited power and production.

Fundamentally, the margin of new production cuts on the supply side has slowed down, the rise in European electricity prices has slowed down, and the overseas energy crisis has eased, but there is still the possibility of further power cuts and production restrictions in the northern region before the end of the
heating season.
Holders on the consumer side actively ship goods at low prices, and the receiving party replenishes goods at low prices, and the overall transaction is average
.
Domestic demand side power restrictions and production restrictions have eased, coupled with lower aluminum prices, stimulating downstream demand to recover moderately, and it is necessary to continue to pay attention to consumption and inventory changes
.

In terms of inventory, the latest inventory data shows that the domestic aluminum ingot social library continues to accumulate, of which Wuxi, Shanghai and other places contributed the main increase
.
On the whole, the problem of global electrolytic aluminum supply constraints is gradually alleviating, domestic inventories are still accumulating, and it is expected that aluminum prices in the future market
may continue to decline.