Aluminum prices fell 2.9% in December
Aluminum prices remained weak in December, with a slight downward trend. According to the Commodity Market Analysis System of Shengyi Society, as of December 31, 2024, the average price of aluminum ingots in the East China market in China was 19783.33 yuan/ton, a decrease of 2.90% compared to the market average price of 20373.33 yuan/ton on December 1.
In December, the social inventory of aluminum ingots decreased slightly
In December, the social inventory of domestic aluminum ingots decreased slightly. As of December 30th, the social inventory of electrolytic aluminum in the mainstream domestic market was 473000 tons, compared to 553000 tons on November 31st, and 80000 tons were sold out.
Changes in aluminum ingot production capacity in December
In December, some regions reduced production. Sichuan region reduced production due to entering the dry season, with an expected reduction of around 200000 tons. Some enterprises in Guangxi region reduced production slightly due to cost factors. As of December, the operating capacity of the domestic electrolytic aluminum industry was around 43 million tons, an increase of 3% compared to the same period last year.
Downstream demand is expected to weaken
In January, downstream processing enterprises gradually entered the Spring Festival holiday period, and there is a market expectation that the demand for aluminum ingots will weaken.
Expected increase in raw material alumina
Affected by the Guinea factor, the expected supply of bauxite has led to a rebound in the price of raw material alumina, which has a short-term emotional impact on the price of aluminum ingots.
Aluminum prices in January are difficult to be optimistic about
Despite the short-term rise in alumina prices and strong cost support for aluminum prices, it is difficult to be optimistic about aluminum prices in January due to weak demand in the off-season. They are in a sideways range with weak upward momentum and a bottom downward trend, and are expected to mainly fluctuate weakly.
| http://www.thiourea.net |