Chinalco (601600.SH/02600.HK) announced on its website on November 10 that the company has raised its alumina ex-factory price by 5.5% to RMB 2,900 per ton, the latest offer from yesterday ( Effective from November 10th.
Chinalco's previous price adjustment was in mid-August, when the alumina ex-factory price was raised by 3.8% from 2,650 yuan/ton to 2,750 yuan/ton.
"First Financial Daily" on November 11 quoted Shanghai-based color network analyst Zhang Wei as saying that recently, some non-Chinese aluminum alumina enterprises have raised the alumina price of the spot market by about 50 yuan. Chinalco's price increase today is affected by this trend. The increase in alumina prices is also conducive to the promotion of the price of electrolytic aluminum. At present, the price of around 16,500 yuan / ton has risen more than 1,000 yuan than the average price of 15,092 yuan / ton in the third quarter.
According to the report, although the current prices of alumina and electrolytic aluminum are above the cost line of enterprises, the price of electrolytic aluminum is still close to the cost line. As Chinalco suffered losses in the second quarter and the third quarter, there was a lot of pressure to reverse the year-round operating situation in the fourth quarter.
Chinalco's previous price adjustment was in mid-August, when the alumina ex-factory price was raised by 3.8% from 2,650 yuan/ton to 2,750 yuan/ton.
"First Financial Daily" on November 11 quoted Shanghai-based color network analyst Zhang Wei as saying that recently, some non-Chinese aluminum alumina enterprises have raised the alumina price of the spot market by about 50 yuan. Chinalco's price increase today is affected by this trend. The increase in alumina prices is also conducive to the promotion of the price of electrolytic aluminum. At present, the price of around 16,500 yuan / ton has risen more than 1,000 yuan than the average price of 15,092 yuan / ton in the third quarter.
According to the report, although the current prices of alumina and electrolytic aluminum are above the cost line of enterprises, the price of electrolytic aluminum is still close to the cost line. As Chinalco suffered losses in the second quarter and the third quarter, there was a lot of pressure to reverse the year-round operating situation in the fourth quarter.
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