Aluminum prices fell slightly on the 30th

According to the data of SunSirs, the average market price of domestic aluminum ingots in East China on March 30 was 22,740 RMB/ton, a daily decrease of 1.12%, a year-on-year increase of 31.07%, and an increase of 0.80% compared with the market average price of 22,560 RMB/ton at the beginning of the month (3.1); Compared with the average market price of 20,370 RMB/ton at the beginning of the year (January 1), the average market price increased 11.63%.

Taking the peak in 2021 (October 19, 2021), the average market price of aluminum ingots was 24,240 RMB/ton, and the recent deviation from the peak has dropped by 6.19%. Starting from the recent recovery (December 13, 2021), the average market price of aluminum ingots was 18,693.33 RMB/ton, a recent increase of 21.65%.

Fundamentals

On the whole, energy prices in Europe are at a high level, and overseas aluminum ingot production is expected to be reduced. Affected by the recent public health incident in China, the operating rate of downstream has declined. Downstream consumption recovered slowly, and the operating rate of aluminum profiles and aluminum sheets, strips and foils rebounded. The domestic electrolytic aluminum operating capacity has increased slightly. Recently, Yunnan Aluminum announced that the hydropower aluminum production capacity of 700,000 tons has been fully completed, and production will be released in succession.

Market outlook

It is expected that the aluminum price will continue to be suppressed by the 23,000 mark. Under the long-short game, the upward space will be narrowed, and the stable and volatile operation will be the mainstay.

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