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The overall supply and demand of the aluminum industry is weak
- China Aluminium Network
- Post Time: 2022/9/15
- Click Amount: 621
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【Aluminum Road Network】
Although the recent news of global electrolytic aluminum production reduction has been reported from time to time, and aluminum prices have also fluctuated strongly, the amount of electrolytic aluminum reduced by overseas electrolytic aluminum plants is relatively small, which has little impact on aluminum prices. Domestic electrolytic aluminum plants have reduced production of electrolytic aluminum by a relatively large amount, but due to the current weak demand in downstream industries, the effect on the rise of aluminum prices is limited. In the future, new and resumed electrolytic aluminum production capacity will still be started in Gansu, Guangxi, Inner Mongolia and other regions. With the end of the national high temperature weather and the arrival of the peak season in September, downstream consumption may improve month-on-month, and aluminum prices will maintain a wide range in the short term. shock.
European and American "hawks" news continues
The ECB will discuss in September whether to raise rates by 50 basis points or 75 basis points. The Fed may announce a rate hike of at least 50 basis points at its September rate meeting, and the "playbook" of the Fed's rate hike is not over yet, at least until the end of this year. The global macroeconomic situation is complex and severe, and the real industry chain as a whole is facing multiple pressures such as demand contraction, supply shock, and weakening expectations. There is still pressure on non-ferrous metal prices.
Global electrolytic aluminum production is lower than expected
Since the beginning of this year, European electricity prices have risen sharply, and European electrolytic aluminum plants are facing a power crisis. At present, the tight supply of natural gas in Europe has caused the price of electricity in Europe to rise by 400%, and most of the aluminum production capacity is affected by production cuts or fluctuations in operating rates. Some electrolytic aluminum plants that have signed long-term contracts with power companies also have the potential to further reduce production in the future with the gradual increase in long-term electricity bills. European electrolytic aluminum production accounts for 11% of global production. Source:
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