Jinwu Financial News | Aluminum stocks weakened. As of press release, China Aluminum (02600) fell 4.91%, China Hongqiao (01378) fell 2.34%, and Xingfa Aluminum (00098) fell 1.36%.
According to the news, the relevant person in charge of the China Nonferrous Metals Industry Association answered the reporter's question about the current alumina market: We believe that there are irrational factors in the price trend of alumina, and excessive speculation of capital is obvious. According to current cost and price estimates, the average profit of the alumina industry is more than 2,000 yuan/ton, which is unsustainable and should not last. First, I hope that all parties should be in awe of the market, abide by the rules, understand the fundamentals, and maintain the bottom line. Second, the relevant agencies should continue to strengthen supervision and put an end to malicious speculation; second, the production capacity of electrolytic aluminum has a “ceiling”, and the current supply and demand for alumina is also basically balanced, which does not support the continued rapid rise in prices. The “near high, far, low” structure of alumina futures prices also indicates that they are not optimistic about forward prices; third, to prevent the unreasonable rise in alumina prices, and the aluminum industry chain should attach great importance to the adverse effects brought about by this. Historical experience tells us that after a sharp rise, there must be a big drop, and only suitable and relatively stable prices are conducive to the healthy development of the industrial chain supply chain.