Aluminum prices fluctuated upward in July
On July 29, the average price of aluminum ingot market was 19510 yuan/ton. In July, the price of aluminum ingot generally fluctuated upwards, and the operating range was 18700-19500 yuan/ton.
On July 29, the average price of domestic aluminum ingots in the East China market was 19510 yuan/ton, compared with the market average price of 18830 yuan/ton at the beginning of the month, an increase of 3.61%.
Taking the average market price of aluminum ingots at the beginning of the year (January 1, 2021) at RMB 15,726.67/ton as the benchmark price, it has now increased by 24.06%.
Summary of Aluminum Market
Cost side: In mid-July, electrolytic aluminum in Yunnan and Inner Mongolia was once again facing pressure on production. Coupled with the launch of carbon trading, the cost of electrolytic aluminum enterprises further increased. Alumina prices have been raised during the month.
Supply and demand side: The social inventory data of aluminum ingots supports aluminum prices, and the local tension of industrial power consumption in summer is superimposed on the process of resumption of production.
Forecast
The current price around 18500-19500 yuan/ton is a steady-state shock range formed by market games. It is expected that the price of aluminum ingots will basically be around 19,000 yuan/ton in the near future.
