Spot aluminum price enters stable shock mode this week

Aluminum market trend

 

On April 24, 2020, the average price of domestic spot aluminum ingots was 12476.67 yuan / ton, and this week, the spot aluminum price fluctuated around 12200-12550 yuan / ton.

 

According to the data of business agency, as of April 24, the average market price of domestic aluminum ingots was 12476.67 yuan / ton, up 8.24% compared with 11526.67 yuan / ton at the beginning of the month (April 1), and 12160 yuan / ton compared with 12160 yuan / ton at the beginning of the week (April 19), up 2.60%.

 

Bottom hit rebound aluminum price rose in April

 

After the year, the price of aluminum plummeted, once falling below the average cost price of the industry. In late March, the number of domestic centralized production reduction and maintenance enterprises began to increase, and some manufacturers avoided large losses through production reduction, shutdown and maintenance. In April, the price of electrolytic aluminum began to rebound, on the one hand, some domestic new production capacity was willing to reduce, and the time was slightly delayed. On the other hand, the impact of foreign epidemic was large, and some foreign aluminum enterprises Production reduction is expected to strengthen.

 

Aluminum imports hit a six-year high in March after aluminum prices plummeted

 

According to customs data, the import volume of unwrought aluminum and aluminum products in March was 121025 tons, compared with 3542 tons in March 2019. In March, China’s aluminum imports more than tripled from the same period last year, reaching the highest level in more than six years, while the import of raw materials bauxite decreased.

 

Melamine

It is reported that in March, when the price of aluminum plummeted, the import volume of aluminum in that month was the highest level since China imported 125180 tons in December 2013. China imported 302580 tons of aluminum in the first quarter, 2.5 times that of the same period last year.

 

Overseas demand weak product backflow?

 

China is the world’s largest aluminum producer and exporter. According to the import and export data in March, the domestic aluminum price fell violently in March. Due to the weak overseas demand, there is a certain connection between the overseas production capacity dumping against the market to the domestic consumption recovery area. In March, the domestic aluminum price was greatly affected by the international market.

 

Future forecast

 

From the perspective of historical price trend, the price is not high at present. Although the price of raw materials in the industrial chain moves down synchronously, the cost support is still strong. Domestic demand is expected to warm in Quarter 2, and the later period is mainly for maintaining stability and strong operation. It is expected that this month will revolve around the 12500 line shock operation.

http://www.lubonchem.com/

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