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Aluminum prices continue to rise Aluminum city "spring" is coming?
Release date:2019-07-22 14:04:59
Overcapacity and weak demand have almost become synonymous with aluminum. The insufficiency of its fundamentals has made many investors discouraged, but the “spring” of aluminum seems to be coming soon. Analysts pointed out that from the year-to-date, the Indonesian government issued a ban on raw ore exports, which led to a sharp drop in China's imports of bauxite from Indonesia, which caused the market to worry about the supply of bauxite and boosted prices.
For global aluminum producers, the current outlook for the aluminum market is arguably the most optimistic for many years. In the case of RUSAL, for the first time in the second quarter, it turned into a profit for the first time in five quarters.
After Rusal has closed part of its own production capacity, production in the first half of this year has decreased by 11%. The company predicts a global supply shortage of 1.5 million tons in 2014. According to the latest survey, among the 14 analysts who evaluated the market's supply and demand surplus this year, four predicted a supply shortage, and analysts forecasting a shortage in 2015 increased to nearly half.
In terms of the comparison of the spread structure, aluminum is still in a state of strong guidance from spot funds, and the Shanghai aluminum holding structure has also begun to turn.
Some analysts pointed out that the overall fundamentals of the aluminum market are still not optimistic at present. In the short term, due to the sudden impact of Xinjiang Xinfa Aluminum Industry, the regulatory level will discuss the rectification of production capacity. However, in terms of price, Shanghai Aluminum's heavy volume still needs to be carefully adjusted. .
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