Aluminum price fell first and then rose in August

Price list of aluminum ingot

 

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According to the data of business agency, the average price of domestic aluminum ingot Market on August 26 was 14786.67 yuan / ton, a decrease of 1.49% compared with the average market price of 15010 yuan / ton at the beginning of the month (August 1); compared with the valley value of average market price at the beginning of the year (January 1), 14553.33 yuan / ton, an increase of 1.60%; compared with the valley value of average market price in the year (March 24), 11230 yuan / ton, an increase of 31.59%.

 

In August, the price of aluminum ingots fell first and then rose, with a range of 14400-15000 yuan / ton.

 

Domestic supply and demand in July

 

Electrolytic aluminum:

 

In July, China’s electrolytic aluminum output was 3.312 million tons, an increase of 1.83% year-on-year. From January to July 2020, the total output of domestic electrolytic aluminum is 21.13 million tons, with a year-on-year increase of 2.76 million tons.

 

Raw material: metallurgical grade alumina:

 

In July, the output of metallurgical grade alumina was 5.699 million tons, and the average daily output of metallurgical grade was 184000 tons, an increase of 0.04% over the same period of last year.

 

Downstream outlet situation:

 

In July 2020, China exported 373000 tons of UN forged and rolled aluminum and aluminum products, with a year-on-year decrease of 23.3%. Note: from January to July, the export of UN forged and rolled aluminum and aluminum products was 2.739 million tons, with a year-on-year decrease of 21%.

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Social inventory stabilized in August

 

According to statistics, on August 20, the domestic spot inventory of aluminum ingots was 762000 tons, and the operation range of social inventory this month was between 730000 tons and 770000 tons.

 

Future forecast

 

At present, the price of electrolytic aluminum is stable and strong, and the future market is expected to continue to maintain.

 

At the raw material end, the overseas production reduction pushed up the alumina price, and the prebaked anode market remained relatively stable. At present, the profit of electrolytic aluminum industry is at a high level. Although there will be a batch of new production capacity to be put into operation this month, the electrolytic aluminum inventory has a slight recovery sign, but the current social inventory is still relatively low. The downstream is about to enter the traditional consumption peak season, and the operating rate has increased slightly, supporting the strong operation of domestic aluminum prices.

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