Rush for Installations Continues to Support Demand, PV Profile Operating Rate Rises [SMM Analysis]

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SMM March 14 News:

PV Aluminum Extrusion:This week, PV extrusion manufacturers maintained a positive production trend. Leading PV enterprises indicated thatMarch-Aprilorder volumes for industry leaders are expected to see a significant increase, with capacity utilisation rates likely to reach full capacity.According to an SMMsurvey, as raw material costs account for over80%, the current primary cost-reduction and efficiency-enhancement measures remain focused on reducing raw material weight. However, related enterprises also pointed out that market demand in H2 remains highly uncertain, and future trends require close attention to cost-side price fluctuations and the actual progress of end-user project implementation.

Material Prices:During the period (2025.3.10-2025.3.14), the average spot price center of aluminum shifted upward.SMM A00weekly average price was20,840yuan/mt, up0.75%from the previous week's average price. Overall, close attention should be paid to changes in US tariff policies and the actual release of downstream demand. If overseas trade frictions escalate further and downstream demand under high aluminum prices falls short of expectations, the upward momentum for aluminum prices may weaken. Next week, the most-traded SHFE aluminum contract is expected to operate within the range of20,700-21,000yuan/mt, while LME aluminum is expected to operate within the range of2,620-2,720US dollars/mt.

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