SunSirs: Spot Aluminum Ingot Prices Become Stablized after Falling 12.87%
March 31 2020 08:15:31 SunSirs (Linda)
Aluminum market trends
On March 30, 2020, the average domestic spot aluminum ingot price was 11,490 yuan / ton, which started to stop and stabilize.
According to SunSirs data, as of March 30, the average domestic aluminum ingot market price was 11,490 yuan / ton, which was 13.87.67 yuan / ton compared with the market average price at the beginning of the month (March 1), a decrease of 12.87%.
Cost support strengthened
At present, the price of aluminum ingots has touched the cost of some manufacturers. Since late March, there have been approximately 6 domestic production reduction and maintenance companies (including plans), affecting the production capacity of 445,000 tons per year. Guangyuan Zhongfu (Phase 1), Baiyin Tianlin, Yunlu Aluminium Heqing (Phase 2), etc., have a total of about 1.1 million tons of electrolytic aluminum production capacity, and the operating rate is not expected to be too high.
Future Forecast
From the perspective of historical price trends, the current price level is not high, and the cost support is strong. Demand is expected to warm in the second quarter. It is expected that in the near future, it will be stable and strong.
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