Aluminum prices rose sharply on the 30th

On December 30, the average price of domestic aluminum ingots in the East China market was 20156.67 yuan/ton, which was an increase of 1.05% from the average market price of 19946.67 yuan/ton on the 28th, and an increase of 6.65% from the average market price of 18,900 yuan/ton at the beginning of the month (December 1). 

The current aluminum price has fallen below the previous high and volatile operating range. At this year's peak (October 19, 2021) aluminum ingot market average price of 124,240 yuan / ton, the recent cumulative decline of 16.85%. Taking the average market price of aluminum ingots at the beginning of the year (January 1, 2021) at RMB 15,726.67/ton as the benchmark price, a cumulative increase of 28.17%.

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Affected by the continued fermentation of the European energy crisis, many aluminum plants in Europe reduced production, and the price of Lun Aluminum once again rose to more than US$2,800/ton. Recently, the overall domestic aluminum price has been on the strong side. On the one hand, it is driven by the news of external disks. On the other hand, the recent domestic trend of continuous destocking is also supporting the rise of aluminum prices. In the later stage, the focus will be on the decline in costs, the willingness of aluminum plants to keep prices after the profit rises, and the changes in inventory after the Spring Festival approaching, the downstream operating rate is falling, and the end consumption is reduced.

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