Smelters’ Profits Shrank amid Plummeting Aluminium Prices

Published: Nov 7, 2022 10:02

Source: SMM

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SHANGHAI, Nov 7 (SMM) - In terms of costs, alumina prices slid 10 yuan/mt last week, while November prebaked anode benchmark prices inched higher.

SHANGHAI, Nov 7 (SMM) - In terms of costs, alumina prices slid 10 yuan/mt last week, while November prebaked anode benchmark prices inched higher. Due to rising thermal power costs in Shandong and other regions, the SMM weighted average electricity price of aluminium smelters across the country climbed to 0.463 yuan/kWh. The full costs of smelters added 21 yuan/mt from a week ago to 17,890 yuan/mt as of last Friday, while the real-time profits shrank 41 yuan/mt to 390 yuan/mt based on the SMM A00 aluminium prices of 18,280 yuan/mt. Despite lower alumina prices, smelters’ costs will remain high in the short term since electricity prices will have a decisive influence.

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