After three months, Chinalco (601600.SH), the largest aluminum producer in China, finally raised the ex-factory price of alumina again. However, compared with other non-ferrous metals, the aluminum market is still in a slightly worse situation. Chinalco needs to work hard to avoid wearing the "ST" hat to achieve full-year profit.
Chinalco announced on its website yesterday that the company has raised the ex-factory price of alumina by 5.5% to RMB 2,900 per ton. The latest offer has been effective since yesterday.
This is the second time that Chinalco has raised the ex-factory price of alumina since August. The company raised its alumina ex-factory price by 3.8% to 2,750 yuan per ton on August 18.
Chinalco, which occupies half of the domestic aluminum market, is not the first company to raise the price of alumina. Previously, some non-aluminum alumina companies have raised the price of alumina in the spot market by about 50 yuan per ton.
Zhang Yi, an analyst at Shanghai Nonferrous Metals, analyzed the “First Financial Dailyâ€, which raised the price of alumina in China Aluminum, which was mainly affected by the price adjustments of some non-Chinese aluminum alumina enterprises. Recently, due to the current downstream Electrolytic aluminum enterprises began to stock up at the end of the year, and alumina supply and demand were relatively tight. He expected that the spot market alumina will increase slightly in the later period.
Zhang Wei also believes that the increase in alumina prices is also conducive to the promotion of the price of electrolytic aluminum. Affected by the power cuts in the previous period to achieve energy conservation and emission reduction targets, the output of many electrolytic aluminum enterprises has been affected, and the price of electrolytic aluminum has also increased. The current price of about 16,500 yuan / ton has already averaged 15,092 yuan / ton than the third quarter. The price has risen by more than a thousand dollars.
According to this newspaper, the price of alumina and electrolytic aluminum at this time is already above the cost line of the enterprise. However, due to the low price, the current price of electrolytic aluminum is still close to the average cost line of electrolytic aluminum enterprises (16,000 yuan / ton ).
“Because the factors that determine the price of non-ferrous metals are not only the relationship between supply and demand, but also the influence of exchange rate and international market policy factors, aluminum products have been inactive in the futures market compared with other non-ferrous metal products, so the increase is also Not as good as other non-ferrous metals," Zhang said.
For Chinalco, which is originally higher than its peers, the pressure to rely on the fourth quarter to reverse the year-round operating situation is even greater. Many analysts pointed out to the newspaper that in addition to the higher cost than the average cost of the industry, the power-limiting and production-restriction policies introduced in some places in the fourth quarter may further affect the operating capacity of Chinalco.
After the loss in the second quarter of this year, Chinalco suffered another loss of 118 million yuan in the third quarter. To avoid wearing the "ST" hat, Chinalco must do everything possible to reverse the loss throughout the year. Possible.
Chinalco announced on its website yesterday that the company has raised the ex-factory price of alumina by 5.5% to RMB 2,900 per ton. The latest offer has been effective since yesterday.
This is the second time that Chinalco has raised the ex-factory price of alumina since August. The company raised its alumina ex-factory price by 3.8% to 2,750 yuan per ton on August 18.
Chinalco, which occupies half of the domestic aluminum market, is not the first company to raise the price of alumina. Previously, some non-aluminum alumina companies have raised the price of alumina in the spot market by about 50 yuan per ton.
Zhang Yi, an analyst at Shanghai Nonferrous Metals, analyzed the “First Financial Dailyâ€, which raised the price of alumina in China Aluminum, which was mainly affected by the price adjustments of some non-Chinese aluminum alumina enterprises. Recently, due to the current downstream Electrolytic aluminum enterprises began to stock up at the end of the year, and alumina supply and demand were relatively tight. He expected that the spot market alumina will increase slightly in the later period.
Zhang Wei also believes that the increase in alumina prices is also conducive to the promotion of the price of electrolytic aluminum. Affected by the power cuts in the previous period to achieve energy conservation and emission reduction targets, the output of many electrolytic aluminum enterprises has been affected, and the price of electrolytic aluminum has also increased. The current price of about 16,500 yuan / ton has already averaged 15,092 yuan / ton than the third quarter. The price has risen by more than a thousand dollars.
According to this newspaper, the price of alumina and electrolytic aluminum at this time is already above the cost line of the enterprise. However, due to the low price, the current price of electrolytic aluminum is still close to the average cost line of electrolytic aluminum enterprises (16,000 yuan / ton ).
“Because the factors that determine the price of non-ferrous metals are not only the relationship between supply and demand, but also the influence of exchange rate and international market policy factors, aluminum products have been inactive in the futures market compared with other non-ferrous metal products, so the increase is also Not as good as other non-ferrous metals," Zhang said.
For Chinalco, which is originally higher than its peers, the pressure to rely on the fourth quarter to reverse the year-round operating situation is even greater. Many analysts pointed out to the newspaper that in addition to the higher cost than the average cost of the industry, the power-limiting and production-restriction policies introduced in some places in the fourth quarter may further affect the operating capacity of Chinalco.
After the loss in the second quarter of this year, Chinalco suffered another loss of 118 million yuan in the third quarter. To avoid wearing the "ST" hat, Chinalco must do everything possible to reverse the loss throughout the year. Possible.
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