Aluminum prices bottomed out in 2018, hovering at year-round lows, with a range of 13,450-15,000 yuan/ton. In the first nine months, the price of aluminium has been running in a “W” trend. In the fourth quarter, the price of aluminium has been falling monotonously.
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The average price of aluminium ingot market continued to be weak in the first ten days of January, 2019. On January 15, the average price of aluminium ingot Market dropped to 13223.33 yuan/ton, which was the lowest level in the past two years. According to the data of business associations, the average price of aluminium (99.70) market as of February 27 was 13640 yuan/ton, which was 2.17% higher than the average price of 13350 yuan/ton on the first working day (February 6) after the year, and 3.15% higher than the price of January.
It is reported that due to the sharp fall in aluminium prices in the fourth quarter of 2018, high-cost aluminium factories suffer serious losses. Some domestic aluminium factories have gradually reduced production and pressure, and the phenomenon of industry independent capacity removal is obvious. Among them, the provinces with the most output reduction are Henan (533,000 tons), Gansu (500,000 tons) and Qinghai (285,000 tons). The common problem in these areas is the high cost of electricity price, which in turn raises the overall production cost, and is also the area where price drops are the first to be hit.
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