SunSirs: Aluminum Oxide Spot Prices Continued to Rise
April 28 2024 14:55:54 SunSirs (John)Price trend
According to the commodity market analysis system of SunSirs, as of April 25th, the average price of aluminum oxide in the market was 3,483 RMB/ton, and on April 18th, the average price of aluminum oxide in the market was 3,473 RMB/ton, an increase of 0.29% compared to last week.
In terms of cost
Due to shortages of bauxite and maintenance of aluminum oxide production lines, some enterprises in Shandong had insufficient supply of raw materials, but it did not affect normal shipments for the time being.
In terms of supply and demand
The trading atmosphere in the spot aluminum oxide market was weak, and downstream electrolytic aluminum enterprises maintained on-demand consumption. Most traders were wait-and-see, and they were cautious in purchasing at lower prices. Recently, there had been a slight rainfall in Yunnan region, which had alleviated the disturbance of power supply and further promoted the pace of electrolytic aluminum production resumption.
Market outlook
With the gradual digestion of the bullish sentiment of electrolytic aluminum, market prices had returned to fundamental logic. It is expected that the price of aluminum oxide will fluctuate and adjust in the short term. We will pay attention to the resumption of production by enterprises and changes in market supply and demand.
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