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Last week, frequent foreign macro events caused sharp fluctuations in the US dollar, and the overall trend of metal prices was not optimistic
.
Although the Brazilian government maintained the ban on Hydro's production restrictions, because the market itself expects Hydro to return to the market next year, and the uncertainty of the news of the project is strong, Lun Aluminum has not received much boost
.
Domestically, Citylink Aluminum's 220,000-ton production capacity was shut down, but because electricity prices have not been negotiated, the production reduction is not very exemplary
.
In addition, the autumn and winter production restrictions in Shandong Province have not had much impact on the aluminum industry, and the expansion of alumina and green aluminum industry integration projects last week show that the pressure on future supply is still there
.
On the cost side, alumina was raised, aluminum prices fell, and the loss of the electrolytic aluminum industry increased
.
On the consumer side, automobile production and sales in October continued the sluggish trend since July, with production and sales of 2.
334 million and 2.
38 million units respectively, and the real estate price reduction promotion news was frequent, reflecting the sluggish situation, seasonally, aluminum consumption in November will weaken
compared with October.
On the whole, the aluminum market is in the link of weak supply and demand, and the supply contraction is not widespread, and the weakening of consumption expectations will drag down aluminum prices further
.
In terms of alumina, as of November 9, Henan's primary alumina quotation was 3200 yuan / ton, up 15 yuan / ton
from last week.
Shanxi first-class alumina quotation was 3190 yuan / ton, up 05 yuan / ton
from last week.
Guiyang primary alumina quotation was 3140 yuan / ton, unchanged
from last week.
Australian alumina FOB prices were $420/mt, down $40/mt
from last week.
Hydro Alunorte maintained the shutdown ban, which stopped the price of alumina overseas, but due to repeated news of the shutdown and the market, the market did not expect the shutdown capacity to return this year, because it did not lead to a sharp recovery in prices
.
Domestically, due to downstream replenishment to support short-term alumina prices, due to the reduction of electrolytic aluminum production, and the 2 million tons of new production capacity of Shanxi alumina put into operation in October was gradually released
.
As a result, alumina prices are expected to come under pressure
.
In terms of news, on the 7th, the Shandong Provincial Government Office issued the "Beijing-Tianjin-Hebei and Surrounding Areas 2018-2019 Autumn and Winter Comprehensive Control Action Plan", emphasizing the implementation of differentiated peak shifting production, and strictly prohibiting the adoption of a "one-size-fits-all" approach
.
Due to the failure to negotiate the electricity price, Gansu Liancheng Aluminum Plant decided to shut down all the remaining 168 500KA electrolyzers, involving a production capacity of 220,000 tons
.
However, the overhaul of Dongxing Aluminum's 300,000-ton production capacity was falsified
.
Sichuan Guangyuan City signed a contract for 250,000 tons of electrolytic aluminum + 200,000 tons of alloy rod + 50,000 tons of cast and rolled plate green hydropower aluminum integration project, the first phase of the project started construction in November 2018, and was completed and put into operation
in September 2019.
Bosai Group Holdings operates Qixing Alumina Plant, and in 2019, the technical transformation expanded the existing 500,000 tons of alumina production capacity to 1.
4 million tons
.
