SunSirs: On November 22, the Aluminum Price Was Stable
November 23 2022 14:10:10 SunSirs (John)
The aluminum price was stable on the 22nd
According to the data from SunSirs, the average price of domestic aluminum ingots in the East China market on November 22 was 19,036.67 RMB/ton, up 0.09% daily; and the price was 5.43% higher than that at the beginning of the month.
In the long term, the average price of aluminum ingot market was 17,450 RMB/ton at the starting point of the recent recovery (July 14, 2022), and the recent recovery was up 9.09%. On the whole, it was still in the stage of platform shock after the recovery.
Industry data list
Import and export data
From January to October 2022, the imported aluminum ingots totaled 429,700 tons, a year-on-year decrease of 66.11%. Among them, China imported 67,400 tons of aluminum ingots in October, an increase of 4.27% month on month and a decrease of 51.78% year on year.
From January to October 2022, China exported 192,900 tons of aluminum ingots, an increase of 187,200 tons year-on-year. Among them, in October 2022, China exported 0.64 million tons of aluminum ingots, a month on month decrease of 66.53%.
Inventory data
According to the inventory data, the social inventory of electrolytic aluminum in the main domestic market fell on a month on month basis. On the 21st, the mainstream social inventory was about 529,000 tons, compared with the inventory of 574,000 tons on the 7th, with 45,000 tons of destocking.
Market outlook
At present, the supply and demand are relatively stable, and the low inventory has a certain support for the aluminum price. In the short term, it is expected that the aluminum price will still be dominated by sideways fluctuations.
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