Aluminum prices slightly rebounded on November 8th
According to the Commodity Market Analysis System of Business Society, the average price of domestic aluminum ingots in the East China market on November 8, 2023 was 19240 yuan/ton, an increase of 0.33% compared to the aluminum price of 19176.67 yuan/ton at the beginning of the month (November 1).
In the long term, the current price is in a sideways range after a high decline. Since May, the price has been fluctuating below 19000 yuan/ton, breaking through 19000 yuan/ton at the end of August. In September, aluminum prices first fell and then rose, and in October, the center of gravity of aluminum prices returned to around 19000 yuan/ton.
At present, electrolytic aluminum production enterprises mainly maintain stable production and have a large operating capacity. The current aluminum ingot inventory has accumulated after the holiday, and the supply of aluminum ingots is sufficient, which has suppressed aluminum prices. However, the demand in the downstream peak season has partially fulfilled, with strong cost support and narrowed downward space. There is an expected increase in production reduction in the near future, and aluminum prices may fluctuate slightly in November.
| http://www.lubonchem.com/ |