Aluminum price lowered on April 11

According to the data of business agency, on April 11, the average market price of domestic aluminum ingots in East China was 21256.67 yuan / ton, a daily decrease of 3.20%, a year-on-year increase of 21.42%, down 6.52% from the average market price of 22740 yuan / ton at the beginning of the month (4.1); Compared with the average market price of 20370 yuan / ton at the beginning of the year (January 1), an increase of 4.35%.

Based on the peak value in 2021 (October 19, 2021), the average market price of aluminum ingot is 24240 yuan / ton, which has fallen by 12.31% from the peak value recently. Starting from the recent recovery (December 13, 2021), the average market price of aluminum ingot is 18693.33 yuan / ton, up 13.71% recently.

Main reasons for aluminum price reduction on April 11

1. Foreign news

According to the data of Iran mining development and innovation organization, in the past 1400 years (as of March 20, 2022), the output of aluminum ingots in Iran was 538600 tons, a year-on-year increase of 20%. Among the four major producers in Iran, Iranian aluminum company ranks first, producing 177000 tons of aluminum ingots. At present, Iran is the 18th largest aluminum producer in the world. Iran plans to achieve an annual output of 1.5 million tons of aluminum ingots in 1404 (March 2025 March 2026).

2. Domestic data

(1) According to the inventory data, the main social inventory has remained above 1 million tons in the near future. At present, it has risen slightly, and the inventory is about 1.075 million tons; According to the delivery data of major regions, the domestic weekly delivery volume decreased month on month and year-on-year, and the delivery volume of Wuxi, Foshan and Gongyi decreased.

(2) In the early stage, the price was high, 23000 yuan mark. After many games between the supply and demand sides, the downstream operating rate has narrowed and suppressed the supply side in the short term.