According to the Commodity Market Analysis System of Business Society, as of April 18th, the average price of alumina in the market was 3473 yuan/ton, and on April 11th, the average price of alumina in the market was 3470 yuan/ton, an increase of 0.1% compared to last week.
In terms of cost
The shortage of domestic bauxite supply has not changed, and there is currently no news of resuming production in the suspended mines in China. The amount of imported minerals in China has increased. According to customs data and import sources, the explosion at the Guinea oil depot did not have a significant impact on the shipment of bauxite. The rainy season in Australia is not conducive to the shipment of bauxite, with Australian imports of bauxite decreasing by 42% month on month in February. Some alumina companies in certain regions have experienced reduced production due to a shortage of ore supply, but due to the domestic alumina industry’s decent profits, companies have a high willingness to increase production, resulting in some supply increases.
In terms of supply and demand
Due to the high aluminum prices and considerable profits, Yunnan Electrolytic Aluminum Plant has a positive attitude towards resuming production among eligible enterprises. In terms of news, the UK and the US have imposed sanctions on Russian metals, including aluminum. There is a certain level of panic in the market, which has pushed up the Shanghai aluminum futures price. The aluminum oxide futures price has been strengthened due to the emotional impact. However, after the news was digested, both Shanghai aluminum and aluminum oxide futures prices have rebounded.
Future Market Forecast
The subjective willingness of alumina enterprises to increase production has increased, and their production capacity is currently experiencing a slight increase. It is expected that the price of alumina will fluctuate and adjust in the short term.
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