20
2024
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08
Aluminum dynamic: In the ups and downs of prices, enterprises to explore new opportunities
Aluminum Industry Trends
Market Price:
In early August 2024, the spot price of aluminum ingots (al99.70) in various regions increased slightly. From August 1 to August 9, the reference price of aluminum showed a downward trend, and the reference price of aluminum on August 9 was 19,026.67, which was lower by 0.83% compared with 19,186.67 on August 1
Industry Development Trend:
In the medium to long term, based on the capacity "ceiling" restriction, the increase in the total supply of electrolytic aluminium is limited. On the demand side, new demands represented by automotive lightweighting, the photovoltaic sector, and ultra-high voltage construction continue to grow at a high speed under the "dual carbon" policy, compensating to a certain extent for the negative impact of the sluggishness in industries such as real estate on demand. The main tone of aluminium prices being prone to rise and difficult to fall will still persist for a considerable period in the future.
China Merchants International previously predicted that global aluminium demand will increase by 3.2%/2.2% in 2024/25, faster than the supply growth forecast (2.3%/1.7%). It is expected that the global aluminium supply and demand will shift from a surplus state in 2023 to a shortage in 2024 - 25.
International Dynamics:
Alcoa (AA.US) announced its second-quarter results. Adjusted earnings per share were $0.16, exceeding the market expectation of $0.08. The same period last year recorded a loss of $0.35 per share. Second-quarter sales were $2.91 billion, representing an 8.3% year-on-year increase. The market expectation was $2.85 billion. The second-quarter adjusted earnings before interest and taxes was $325 million, exceeding the market expectation of $314 million and compared to $137 million in the same period last year. Its turnaround to profit in the second quarter was mainly driven by higher prices and increased shipments.
The strong aluminium market in the first half of the year boosted the performance of miners. Overseas alumina prices trended upward with oscillations. By the end of June 2024, the FOB price in Australia rose to $505 per ton, representing a year-on-year increase of 52.57%.
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Shandong Chengyi Aluminum Industry Co., Ltd
Shandong Chengyi Aluminum Industry Co., Ltd
Chengbei Industrial District, Gaomi City, Shandong Province, China
Chengbei Industrial District, Gaomi City, Shandong Province, China
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