Over the past month, industrial metals have not been the top choice for bullish capital, with confidence in long positions waning, leading to profit-taking and short-selling after rebounds to high levels. This partly explains why Shanghai aluminum (SHFE) faced repeated resistance around the 20,000 yuan/ton level, especially with positions decreasing during this rebound.
Since late August, prices of domestic and in
Since entering August, alumina prices have once again surged, rising rapidly from around 3,600 yuan per ton to over 4,000 yuan per ton, drawing significant market attention. We previously mentioned that issues with supply at the mining end have not been resolved and will continue to provide strong support for alumina prices in the near future and over the coming period. The fundamentals for alumina are expected to re
This year, domestic electrolytic aluminum operating capacity has increased from 42 million tons to 43.4 million tons, with output in the first half of the year growing by approximately 5.3% year-on-year. The newly added capacity in Inner Mongolia has been put into production, and the resumption of production in Yunnan has been completed, leaving very limited room for additional capacity. About 250,000 tons of capacit
The latest report from the World Bureau of Metal Statistics (WBMS) reveals that in May 2024, global primary aluminum production reached 6.0053 million tons, with consumption at 5.9002 million tons, resulting in a supply surplus of 105,100 tons. From January to May 2024, global primary aluminum production totaled 29.5127 million tons, while consumption was 29.1502 million tons, leading to a supply surplus of 362,500 t
