Monthly Aluminum Market Report May 2019
2019-06-13 18:37:35 【Print】
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1 Market Highlights
In May, bauxite supply in Shanxi and Henan was tight again and bauxite prices rebounded. Meanwhile, more alumina plants in Shanxi and Southwest China began to try to use imported bauxite.
In late May, the inventory of aluminum fluoride decreased substantially, while prices for the material in China continued to rise driven by production cost.
Bauxite transactions were limited in late May due to the Lasser Bairam holiday in Indonesia, Malaysia and Turkey.
In the middle of this month, a major alumina producer in Shanxi cut production due to environmental protection problems, resulting in a sharp increase in alumina prices of about RMB400/t (USD57.81/t) due to tight supply. Although China's imported alumina market produced a price difference, most traders still held a wait-and-see attitude.
Primary aluminum prices remained volatile, but because of the rising prices of raw materials such as alumina, it was still difficult for primary aluminum plants in the north and northwest to make profits.
In May, secondary aluminum alloy market entered the off-season ahead of time, die-casting plants' demand for secondary aluminum alloy continued to shrink and the Sino-US trade war further weakened the demand. Secondary aluminum alloy ingot in Southeast Asia was seeking opportunities to enter Chinese market.
In May, bauxite supply in Shanxi and Henan was tight again and bauxite prices rebounded. Meanwhile, more alumina plants in Shanxi and Southwest China began to try to use imported bauxite.
In late May, the inventory of aluminum fluoride decreased substantially, while prices for the material in China continued to rise driven by production cost.
Bauxite transactions were limited in late May due to the Lasser Bairam holiday in Indonesia, Malaysia and Turkey.
In the middle of this month, a major alumina producer in Shanxi cut production due to environmental protection problems, resulting in a sharp increase in alumina prices of about RMB400/t (USD57.81/t) due to tight supply. Although China's imported alumina market produced a price difference, most traders still held a wait-and-see attitude.
Primary aluminum prices remained volatile, but because of the rising prices of raw materials such as alumina, it was still difficult for primary aluminum plants in the north and northwest to make profits.
In May, secondary aluminum alloy market entered the off-season ahead of time, die-casting plants' demand for secondary aluminum alloy continued to shrink and the Sino-US trade war further weakened the demand. Secondary aluminum alloy ingot in Southeast Asia was seeking opportunities to enter Chinese market.
