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Last week, aluminum prices ran weakly and fell below the 10,000,000 mark
.
On the 16th, Shanghai aluminum closed at 18,740 yuan / ton, a weekly decline of 2.
7%.
After the main contract of Shanghai aluminum hit a stage high of 19,435 yuan / ton in early December, the upward pressure gradually became prominent
as European and American interest rate hikes landed.
Shanghai aluminum last week operating center of gravity shifted, recently hovered around 18600 yuan / ton, is expected to be the future market is mainly
range oscillation.
In terms of production reduction, due to insufficient power in Guizhou, aluminum companies are required to reduce production from the 13th, and the scale of production is expected to be reduced by 400,000 tons; Shandong and Henan have a production reduction of 80,000 tons under the influence of environmental protection during the heating season, and the scale of dry water tank suspension in Yunnan is about 18%, and there is no other production reduction news; In terms of new production, Sichuan resumed production of 150,000 tons in November, and there is no hope of full production or repair to 700,000 tons
by the end of the year.
The scale of resumption of production in Guangxi Province is 150,000 tons, and it is expected to continue to accelerate
under the incentive measures of capacity utilization rate improvement.
Inner Mongolia Baiyinhua may have 50,000 tons of new production put into operation this year, and Guizhou Yuanhao put into operation delayed
.
It is expected that the domestic electrolytic aluminum operating capacity will exceed 41 million tons in December, and the output will reach 3.
46 million tons
.
On the demand side, order support was insufficient, and the weekly operating rate of domestic aluminum downstream processing leading enterprises fell by 0.
3% to 65%.
Among them, the operating rate of primary aluminum alloy remained stable at 59%, the operating rate of aluminum plate and strip fell by 1% to 77%, the operating rate of aluminum foil fell by 0.
5% to 80.
6%, the operating rate of aluminum profiles was 64.
3%, and the operating rate of aluminum cable fell by 0.
2% to 58.
2%.
The operating rate of recycled aluminum alloy is 51%.
The processing cost of aluminum rods in various places has risen steadily, Henan Baotou Linyi has remained stable, and Xinjiang Wuxi Guangdong has increased by 240-300 yuan / ton; The aluminum rod processing fee remained stable in Guangdong, with other regions increasing by 25-50 yuan / ton, and aluminum alloy being lowered by 100-450 yuan / ton
across the board.
In terms of inventory, in terms of exchange inventory, the LME weekly accumulation was 06,100 tons to 477,700 tons, and the accumulation of Shanghai aluminum was 01,100 tons to 92,400 tons
.
In terms of social stocks, alumina accumulated 34,000 tons to 260,000 tons last week; aluminum ingots were destocked by 18,000 tons to 482,000 tons; and aluminum rods were destocked by 12,000 tons to 68,500 tons
.
The Fed's interest rate hike landed, basically in line with market expectations
.
There is new news on the domestic supply side, Guizhou has recently reduced production beyond expectations, but it is difficult to meet the decline in demand, there are few new orders downstream, and some enterprises have an early holiday
.
Under the pattern of weak supply and demand, the low inventory effect began to weaken, and the support was no longer under the aluminum price to continue to run
weakly and steadily.
