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SunSirs: Chinese Aluminum Prices are under Pressure in Mid-to-Late January and Run Sideways
January 28 2021 08:43:40SunSirs(Linda)

According to data from SunSirs, on January 27, the average price of domestic aluminum ingots in the East China market was 14,910 yuan/ton, a decrease of 5.19% from the average market price at the beginning of the month (January 1) of 15,726.67 yuan/ton.

The recent pressure on aluminum prices is mainly based on two factors:

1. Early aluminum prices were high, aluminum mills were profitable, and aluminum production moved up

According to data from the National Bureau of Statistics, the total domestic aluminum production in 2020 was 37.08 million tons, exceeding the record high of 35.802 million tons set in 2018, setting an annual record. Among them, the production of primary aluminum in December 2020 was 3.27 million tons, a month-on-month comparison. Up 2.8%. It exceeded the record high of 35.802 million tons set in 2018.

In the early stage, aluminum prices were high, aluminum factories were profitable, and operating rates moved upward.

2. Aluminum consumption in the off-season, aluminum ingots are slightly tired

At present, the low season of aluminum consumption is approaching the end of the year, downstream demand is downstream, and the social inventory of aluminum ingots is beginning to accumulate. The social inventory of electrolytic aluminum was 688,000 tons, an increase from the level of 600,000 tons in early December.

Near the end of the year, some aluminum profile companies have an early holiday, and aluminum prices are falling sideways, so there is not much demand for inventory.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.

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