Chinese aluminum smelters' profits shrank

Published: Nov 27, 2023 09:02

Source: SMM

Save

In the week ending November 23, aluminum's immediate costs showed minor fluctuations, with spot alumina prices weakening.

In the week ending November 23, aluminum's immediate costs showed minor fluctuations, with spot alumina prices weakening. The SMM alumina price index fell around 7 yuan/mt WoW while other raw material and auxiliary material prices fluctuated narrowly. A northern cold wave caused a slight coal market price rebound, but high port and power plant inventories limited the rise, keeping prices mostly stable. Domestic aluminum smelters' electricity consumption remained unchanged WoW. As of November 23, China's aluminum spot full cost was about 16,241 yuan/mt, down 19 yuan/mt WoW. The aluminum spot price trended weakly, with slight profit fluctuations. The domestic aluminum spot price was around 18,810 yuan/mt, with an average immediate profit of about 2,578 yuan/mt, down 102 yuan/mt WoW. Short-term impact of recent alumina market production cuts may halt spot price decline. A slight electricity cost increase might stabilize immediate industry costs around 16,200 yuan/mt, with industry profits fluctuating widely due to spot price variations.

Market forecast Market review

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

6 hours ago

Analysis of Supply, Demand and Trade Pattern in the Aluminum Market

6 hours ago

Tight Supply Outside China Continues, China’s Inventory Remains Under Pressure [SMM Analysis]

6 hours ago

Aluminum Semis Export Profits Continued to Rise, Recovering to Pre-Rebate-Cancellation Levels [SMM Analysis]

In Q1 2026, China’s aluminum semis exports showed a pronounced pattern of product-category divergence amid the interplay of three factors: the long-term impact of the cancellation of export tax rebates in December 2024, the divergence in demand structures outside China, and the sudden outbreak of geopolitical conflict in the Strait of Hormuz.....

6 hours ago