HC HVAC & R Network March LME copper and aluminum have a breakthrough early in early April high, the domestic metal prices under pressure is always passive. Three varieties of aluminum zinc inside and outside the disc reveals more at the technical level, "foreign powers within the weak" character, but the fundamentals in the best interests of Shanghai copper repeated restricted to 64,000 yuan / ton, Shanghai aluminum, zinc in the domestic Shanghai substantial growth in production, supply ample Environment , The lack of an independent higher power. Therefore, once faced down copper, aluminum and zinc will now fall, and the Shanghai Zinc prices have dropped even more than Shanghai copper. Market outlook, if the environment continues to maintain upward shocks, aluminum zinc lags behind the performance of copper, zinc and aluminum, "foreign powers within the weak" performance will continue.
Generous supply of the main reasons
Fundamentals, the non-ferrous metals is still excess supply and demand as a whole, through the World Bureau of Metal Statistics data, we can see the world from January to February oversupply of 264,000 tons of aluminum city, compared to 738,000 tons; global 1-2 on excess supply 192,000 tons of zinc City, a year surplus of 270,000 tons over the same period. Excess capacity is reduced consumption in the upgrade, but the output is on the rise, LME stocks dominant phase in the current downward trend in the peak season is not yet clear. LME aluminum inventories extremely slow and hover around the 4.57 million tons, 543,000 tons of zinc stocks are still at.
Although copper is also facing the same problem, but the aluminum zinc output, especially in China surplus environment. IAI data, the global daily average primary aluminum output in March to 66 million tons, while domestic production in March reached 450,000 tons daily. National Bureau of Statistics show that China's primary aluminum output up in March hit a record high of 1.364 million tons, cut-off cut in the same period last year 50.2% achieved on the basis of the increase; domestic refined zinc production in March reached 421,000 tons. Now, this year's domestic consumption and non-ferrous metals GDP Consistent growth, but in the absence of last year's Collection and storage issues, and a large pre-established recessive stocks still need to digest the environment, rapid recovery in domestic production is increasing pressure on Al-Zn-shelf. This can still maintain a relatively high peak stage of premium aluminum zinc response on the spot to get spread.
Since 2010, domestic aluminum, zinc and additional expansion the situation is continuing, present in raw materials, bauxite, alumina, and zinc ore import situation is still smooth, together with yields of domestic zinc concentrate year to maintain a high growth rate, primary aluminum and refined zinc production will ensure a smooth adoption of the main domestic aluminum zinc alloy, profiles exports could digest the positive impact of domestic surplus. However, the current is not obvious.
London rally hard aluminum
Specific discussion of aluminum, very high level of inventory in April and not hindered LME aluminum out of the nearly 2500 U.S. dollars in March of this year's high. While before the crisis in 2006-2008, most of the time outside the aluminum plate to run in 2400 U.S. dollars or more, but even if there Energy Theme support, with a large number of locks in the financing agreement out of aluminum stock, the West appears complex aluminum production capacity, aluminum prices between the U.S. dollar's performance in 2400-2600 will be the main shock, sustained rally hard, and do not rule out the possibility re- fell to 2200 U.S. dollars. Domestic point of view, due to product price increases, alumina aluminum prices may rise again, but the quarterly earnings of the Chinese aluminum industry has been in the current environment may not be price adjustment. At present, roughly the cost of aluminum in the 1.53-1.55 million tons / ton between. We believe that aluminum prices will be the main shock, the wide range of main contracts in the 1.6-1.8 million / ton, and when prices are relatively high position will increase in domestic aluminum companies to sell preservation initiative. I am a professional writer from China Toys Suppliers, which contains a great deal of information about decorative paint rollers , pattern paint roller, welcome to visit!
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