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As the European and American stock markets rebounded and risk aversion cooled, Lun Aluminum closed up $28 the next week, China's targeted RRR reduction landed to support the economy, fundamental consumption is gradually recovering, and aluminum is expected to rise
slightly today.
The epidemic situation abroad continues to deteriorate, and the overall number of confirmed cases overseas has far exceeded that of China, and the number is still increasing at a high level every day, giving more uncertainty
to the peripheral market.
The domestic epidemic prevention battle has achieved initial results, and enterprises in Hubei have successively prepared to resume work, and it is expected that electrolytic aluminum downstream enterprises will be fully resumed in
early April under optimistic conditions.
With the resumption of work downstream, policy stimulus has been introduced one after another, the RRR reduction has recently landed, and policies to stimulate consumption such as automobiles are also on the
line.
Recently, the macro atmosphere has been frequently disturbed, and the volatility of aluminum prices has increased, and it is recommended that new orders wait and see
for the time being.
Industry News:
1.
ASX-listed FYI Resources has secured $80 million in project development financing to develop its Cadoux kaolin and Kwinana high purity alumina projects
in Western Australia.
Over a mine life of approximately 25 years, the project can produce 8,000 tons of high-purity alumina
per year.
The project's cost of capital is expected to be $198 million, the net present value after tax is $543 million, and the internal rate of return is 46%.
2.
According to Thursday, Vedanta said that due to significant improvements in operational efficiency, the Lanjigarh alumina refinery's total output is expected to increase from 1.
5 million tons in the previous year to 1.
8 million tons
in FY20.
Vedanta said in a note that a 26% reduction in caustic soda consumption and a 19% reduction in switching costs drove operational improvements
.
It also reduced bauxite costs per ton by 9%
through strategic bauxite procurement.
Last week, Shanghai aluminum mainly ran between 12700-13000, and on Friday, stimulated by the release of global liquidity, aluminum prices were significantly boosted, and the external market rose more than 2%.
The favorable short-term release of liquidity is expected to still have a boost to the metal market, aluminum prices downward touch the industry cost line, upward high inventory and output release suppression rebound height, intraday or show a strong shock, short-term recommendation wait-and-see
.
