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Trade Service
On Monday, the Shanghai aluminum shock rose, and accelerated upward
in the afternoon.
Recently, there have been many positive news at the macro level, and macro sentiment has warmed up, and the social treasury continues to go to the warehouse to boost aluminum prices
.
In terms of news, the operating rate of aluminum leading downstream processing enterprises increased slightly again last week, with the average operating rate rising by 0.
9 percentage points to 67.
6%.
Recently, Sichuan Province has formulated measures to improve the implementation of the ladder electricity price policy for the electrolytic aluminum industry, and at the same time strictly prohibits the implementation of preferential
electricity prices for the electrolytic aluminum industry.
In terms of fundamentals, there has been no new production reduction on the supply side, but there will be no large-scale resumption of production for the time being, and the northern region may still experience reduced production
in the later period due to the environmental protection requirements of the Winter Olympics and the double-limit policy.
On the cost side, with the further decline in alumina prices and the weighted average electricity price falling back to 0.
53 yuan / kWh recently, the losses of electrolytic aluminum smelting enterprises have eased, and the production of some enterprises has returned to the break-even line
.
On the consumer side, the sentiment of cargo holders is gradually rising, the willingness of receiving goods to be bullish and purchasing is high, and the trading atmosphere is acceptable
.
With the easing of domestic power rationing pressure, downstream processing enterprises continue to pick up, outbound data performance is better, and consumption continues to improve month-on-month, but it is still necessary to pay attention to the sustainability of downstream consumption improvement
.
In terms of inventory, the latest inventory data shows that domestic aluminum ingots are destocked, and the South China Sea and Wuxi regions contribute mainly to the decline
.
In terms of price, the current aluminum market fundamentals are relatively stable, the macro atmosphere is warming, and the aluminum ingot social library continues to support aluminum prices, and it is expected that short-term aluminum prices will fluctuate
.
