SunSirs: Aluminum Prices Rose Slightly on the 8th
September 09 2022 09:30:32     SunSirs (John)Price trend
According to the data of SunSirs, the average market price of domestic aluminum ingots in East China on September 8 was 18,476.67 RMB/ton, a daily increase of 0.33%, compared with the market average price of 18,360 RMB/ton at the beginning of the month (9.1), an increase of 0.64%, and compared with the average market price of 21,760 RMB/ton in the same period last year, a decrease of 15.09%.
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 dropped by 23.78%. Starting from the recent recovery (July 14, 2022), the average market price of aluminum ingots was 17,450 RMB/ton, and the recent recovery increased by 5.88%.
Analysis review
In terms of news, the production capacity of aluminum plants with high energy consumption caused by the European energy crisis has been significantly affected. The recent news of new production cuts has brought aluminum supply concerns to the market.
Domestically, the electricity production limit in the previous period has formed a certain support for aluminum prices. As of the 8th, the social inventory in the mainstream domestic areas was around 670,000 tons, and this week’s slight destocking was around 13,000 tonsAt present, the bearish expectations triggered by the macro pessimism have gradually faded under the impact of the production cut news. At present, the bearish expectations triggered by the macro pessimism have gradually faded under the impact of the production cut news.
Market outlook
The overall demand has been relatively weak recently, and it is expected that aluminum prices will fluctuate strongly in the short term.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com
- 2024-03-20 SunSirs: Aluminum Prices Slightly Rebounded in March
- 2024-03-04 SunSirs: Aluminum Prices Slightly Rebounded at the End of February
- 2024-01-19 SunSirs: The Driving Force of Alumina Cost Declined, and Aluminum Prices Fell Back from High Levels in January
- 2024-01-04 SunSirs: Price List of Commodities in the Fluoride Industry Chain On January 3rd
- 2023-11-16 SunSirs: The Production of Electrolytic Aluminum Reached 34.46 Million Tons