Aluminum ingot price

According to data from SunSirs, on January 29, the average price of domestic aluminum ingots in the East China market was 14,886.67 yuan/ton, compared with the average market price of 15,726.67 yuan/ton at the beginning of the month (January 1), a monthly decrease of 5.34%.

At present, the sideways movement of aluminum prices is prominent, mainly based on the following factors:

1. Weakening of the library is not as expected

At present, the low season of aluminum consumption is approaching the end of the year, and the social inventory accumulation phenomenon expected by the market is less than expected. The social inventory is hovering below 700,000 tons. At the end of December, the speed of the library is slow, not as expected, and even a slight decline has occurred recently.

2. High proportion of molten aluminum supply, production of extruded aluminum ingots

It is reported that in January 2021, the weighted aluminum water ratio in the aluminum industry was 64.61%, which was only 3.61% lower than the previous month; that is to say, the monthly increase in aluminum ingots was roughly 120,000 tons, a year-on-year decrease of about 180,000 tons compared with previous years.

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