[SMM analysis] the price of prebaked anode decreased by 170RMB / t in April, and there is still a downward trend in the later stage.

Published: Apr 2, 2020 18:46

Save

SMM4, April 2: in April, Weiqiao lowered the basic purchase price of pre-baked anode to about 2660 yuan / ton (spot exchange), a reduction of 170 yuan / ton. According to SMM, other electrolytic aluminum manufacturers will be highly likely to reduce the anode purchase price.

SMM prebaked anode price

"Click to view SMM historical price data

Since the development of the epidemic, the aluminum industry chain is under full pressure, so what kind of pressure is the pre-baked anode market facing?

Cost end: after a short-term surge, the price of petroleum coke in a smelter fell to about the current price range of 800 yuan / ton, down about 35%. The main reason is that the operating rate of the smelter is not high and the supply of petroleum coke is less than the demand in the middle period of the epidemic, resulting in the overall quotation of petroleum coke is on the high side in the short term; in the later stage, the epidemic situation is gradually controlled and stable, although the operating rate of the smelter has rebounded, but the demand is insufficient in the same period. the low order quantity leads to the price of petroleum coke falling to a low level.

Supply side: the operating rate of commercial prebaked anode manufacturers is insufficient in March, and some anode manufacturers report the occurrence of accumulation. In the impact of the current epidemic situation, the current electrolytic aluminum plant profit pressure, has stopped production, maintenance and planned to stop the proportion of electrolytic aluminum plant gradually increased. As far as export is concerned, according to SMM, the export of prebaked anode in March is not obviously affected by the epidemic situation. If the subsequent foreign electrolytic aluminum plant has a substantial shutdown or will have a negative impact on the anode export.

SMM believes that the adverse effects of the current demand side still put pressure on the profits of commercial prebaked anode, and the anode price still has a downward trend in the later stage.

"Click to sign up:" 2020 (15th) China International Aluminum processing Summit "

Scan QR codes, apply to attend the meeting or join the SMM Metal AC Group

Prebaked anode price forecast

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 for 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

1 hour ago

US-Canada Tariff War Escalates: Retaliatory Measures and Bans on Goods Imposed

The US-Canada tariff war has escalated once again. Canada took the lead in imposing retaliatory tariffs on approximately $20 billion worth of US goods, and the US responded with tough countermeasures: starting September 15, a 50% tariff will be imposed on about 100 categories of Canadian products; starting September 29, imports of certain Canadian motor vehicles and dairy products will be further banned.

1 hour ago

ECB Raises Interest Rates by 25 Basis Points, Signals Further Hikes Amid Inflation Concerns

The European Central Bank announced a 25 basis point hike in all three key interest rates, in line with market expectations. The central bank noted that the Middle East conflict continues to push up inflation, and inflation is expected to remain well above the target level for an extended period. According to people familiar with the matter, ECB officials expect to raise rates further, with the next move possibly coming as soon as October.

1 hour ago

China's Auto Sales Drop 5.1% in August, NEV Sales Surge 17.8% YoY, Exports Up 65.3%

CAAM data shows that in August, China's auto sales were 2.712 million units, down 5.1% YoY. Among them, NEV performance was impressive, with sales reaching 1.643 million units, up 17.8% YoY, accounting for 60.6% of total new vehicle sales. In terms of exports, auto exports in August were 1.01 million units, up 65.3% YoY; NEV exports were 526,000 units, up 1.3x YoY.

1 hour ago