【SMM Weekly Review: This Week's Market is Dominated by Small-Scale Pre

Published: May 17, 2024 14:40

Save

【SMM Weekly Review: This Week's Market is Dominated by Small-Scale Premium Transactions, and the Growth Rate of Spot Prices Slows Down】 This week, the domestic spot market is still dominated by downstream small-scale rigid demand procurement. The transaction focus continues to shift upwards, but the transaction volume has decreased compared with the previous week, and the growth rate of spot transaction prices has slowed down. Domestic alumina enterprises have recently implemented parallel production cuts and restarts. SMM expects that before the massive resumption of production of domestic mines, there may be no significant increase in short-term supply. As for demand, according to SMM research, the operating capacity of domestic electrolytic aluminum in May will mainly maintain an upward trend, mainly due to the steady recovery of power supply in Yunnan, and the steady resumption of remaining production capacity. SMM expects that Yunnan will have 350,000 tons/year of production capacity resumed in May, while there are no major changes in other regions. As overseas alumina prices continue to rise, there is little room for imports to increase. SMM predicts that the tight balance of domestic alumina will continue in the short term, and spot prices may remain high and volatile. It is necessary to continue to pay attention to the progress of production resumption in Shanxi and Henan enterprises and the downstream procurement rhythm...

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

2 hours ago

A00 pulls back slightly, aluminum scrap remains stable overall [Aluminum Scrap Daily Review]

2 hours ago

Xinjiang Boyuan Aluminum Advances 150,000 MT Annual Capacity Project in Zhundong Economic Zone

Xinjiang Boyuan Aluminum Co., Ltd. is making every effort to advance the construction of its new-type aluminum semis project with an annual capacity of 150,000 mt. Located in the Huoshaoshan Aluminum Downstream Industrial Park of Xinjiang Zhundong Economic and Technological Development Zone, the project involves a total investment of 180 million yuan and covers an area of 64 mu. It is planned to build two standardized production workshops with a total floor area of 23,000 m². In terms of production line configuration, the project will be equipped with two aluminum rod production lines, eight cast-rolling aluminum coil and strip production lines, and one cold-rolling aluminum coil and strip production line. Once fully completed and put into operation, the project is expected to achieve an annual production capacity of 60,000 mt of aluminum wire and 90,000 mt of aluminum coil.

2 hours ago

[ADC12 Price Daily Review] Aluminum futures fluctuate at highs; ADC12 spot consolidates on a strong note

[ADC12 Price Daily Commentary: Aluminum Futures Consolidate at Highs, ADC12 Spot Consolidates on a Strong Note] The aluminum alloy 2611 contract opened at 23,430 yuan/mt today, dipped to an intraday low of 23,320 yuan/mt where it found support before gradually rebounding, fluctuated within a range of 23,320-23,560 yuan/mt throughout the day, and closed at 23,435 yuan/mt, up 0.11%.

2 hours ago