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Aluminum upstream cargo backlog may improve
- China Aluminium Network
- Post Time: 2022/12/12
- Click Amount: 1126
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【Aluminum Road Network】
Shanghai aluminum fluctuates at a high level. The market trading sentiment fluctuates, and domestic real estate support policies and epidemic control are gradually relaxed to support the high price of aluminum. The reduction and resumption of production on the supply side coexist, demand has entered an off-season, and consumption is weak. With the optimization of epidemic control measures, transportation will improve, and the backlog of upstream aluminum goods may improve, while aluminum inventories are currently low. Under the influence of long and short factors, the price of aluminum presents a high and volatile market.
Fundamentals
The gradual liberalization of domestic epidemic prevention policies, the expectation of economic recovery and the stabilization of real estate support the high price of aluminum. At present, there is no major change in the fundamentals. The reduction and resumption of production at the supply side of the aluminum market coexist. The resumption of production and new investment in Sichuan, Guangxi, Guizhou, and Inner Mongolia will continue to advance, and the production capacity will increase slightly. It is reported that the annual output of Guizhou Yuanhao Aluminum is 82,500 tons The electrolytic aluminum project will be completed and put into operation at the end of December, but the impact of the power cut measures in Guizhou Province on the production progress of the electrolytic aluminum plant needs to be paid attention to. Yunnan and Henan have fulfilled production cuts, and there is no news of further expansion of production cuts.
There is no obvious improvement in demand, and there are obvious signs of off-season. The aluminum rod processing fee is bleak and has declined successively. The downstream start has dropped to 66% due to the traditional off-season and the impact of the epidemic. With the coming of winter and the influence of factors at the end of the year, production of terminal projects such as construction has been suspended, and some small and medium-sized strip and profile companies have drastically reduced production or even put on holidays in advance due to insufficient demand, dragging down the demand for aluminum.
According to the latest data from the General Administration of Customs, in November 2022, China exported 455,500 tons of unwrought aluminum and aluminum products, and the cumulative export from January to November was 6.1319 million tons, a year-on-year increase of 21.3%. Inventory, LM Source:
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