Automotive Sheet Capacity Continues to Expand, Supply-Demand Imbalance Intensifies, Putting Industry Profits Under Pressure [SMM Analysis]

게시됨: Mar 2, 2025 16:43

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[SMM Analysis: Automotive Sheet Capacity Continues to Expand, Supply-Demand Imbalance Intensifies, Pressuring Industry Profits] Compared to 2023, automotive sheet production in 2024 is still below expectations, mainly due to a sluggish automotive sheet market during the year and reduced procurement volumes by multiple automakers. In 2025, no significant improvement in demand is expected, but 100,000-200,000 mt of capacity is expected to be completed and put into operation, with the supply-demand relationship continuing to trend towards oversupply, further compressing profit margins across the industry.

SMM March 2 News: According to SMM statistics, China's automotive sheet production in 2024 totaled approximately 492,000 mt, an increase of about 8,000 mt compared to 2023. The growth rate continued to slow but remained positive. By year-end 2024, there were eight domestic companies with stable automotive sheet production capabilities, with a combined annual capacity of approximately 1 million mt. However, nearly 300,000 mt of automotive sheet capacity was still under preparation or commissioning. Currently, the domestic market primarily uses automotive sheets for the four doors and two hoods of vehicles, including 5182 and 5754 automotive inner panels, as well as 6014 and 6016 automotive outer panels. The processing fee ranges were 8,000-12,000 (excluding tax) and 10,000-14,000 (excluding tax), respectively. Due to the high degree of customization, processing fee quotation ranges varied among automotive sheet producers. Key factors influencing processing fees included the brand positioning of downstream customers (i.e., automakers), the performance requirements of the automotive sheet products themselves, and order volumes. Compared to 2023, automotive sheet production in 2024 still fell short of expectations, primarily due to a sluggish automotive sheet market during the year, with multiple automakers reducing procurement volumes. In 2025, no significant improvement signals are expected on the demand side. However, 100,000-200,000 mt of capacity is expected to be completed and put into operation, with the supply-demand relationship continuing to trend toward oversupply. The profit margins of the entire industry are likely to face further compression. 》Click to View the SMM Aluminum Industry Chain Database

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