Although the output of electrolytic aluminum is still maintained at a record high, the output has been declining for two consecutive months, and the supply pressure of primary aluminum may be reduced.
The decline in electrolytic aluminum production was mainly due to the suspension of production of several electrolytic aluminum in the third and fourth quarters. Chinalco.com reported in the report that China Aluminum's Fushun Aluminum's 350,000 tons of electrolytic aluminum capacity was discontinued. Sichuan Qia and Chinalco Companies such as Lanzhou have reported that production has been suspended or reduced.
Recently, the aluminum price avalanche, after the continuous decline yesterday, the spot price of the Yangtze River A00 aluminum hit a record low since the record of Chinalco.com reached 10060 yuan / ton, which is not finished, then immediately after the Shanghai aluminum main contract 1601 open gap low open directly Broken million, the lowest reached the position of 9910. The reason for the continued avalanche of aluminum prices is nothing more than the oversupply caused by the overcapacity caused by the huge capacity and the sluggish demand caused by the economic slowdown.
Although there have been reductions in the production of electrolytic aluminum plants from the beginning of the year to the present, there has been no increase in the reduction. There has been no fundamental change in the supply surplus in the first half of the year. Statistics show that this year's electrolytic aluminum production will reduce 2 million tons, but the new capacity will exceed 3 million tons, and 4 million tons of capacity will be built next year. When there is no "new story" on the demand side, only the price avalanche will force the full exit of high-cost production capacity to save the current aluminum price. As far as the data is concerned, the exit of high-cost production capacity is not optimistic.
On the 11th, the Bureau of Statistics has released the production data of alumina. The alumina production in January-October reached 47.35 million tons, an increase of 10.6% year-on-year, and the supply pressure is still very large.
In addition, the production data of aluminum alloy and aluminum were also released today, and the data showed
The output of aluminum alloy in October was 571,500 tons, an increase of 11.55% year-on-year; the output of aluminum alloy in January-October was 5.0599 million tons, an increase of 7.89%;
In October, aluminum was 4.5726 million tons, up 6.86% year-on-year; from January to October, aluminum production was 42.548 million tons, up 8.49% year-on-year.