Daily Prices for Non-ferrous Aluminum Raw Materials

On January 29, 2024, the Shanghai main contract of Aluminum closed at 19050 RMB/ton (as of 3pm on Friday), an increase of 0.95%. The average price of SMM spot A00 aluminum is 19130 RMB/ton. The average price for A00 aluminum ingots is RMB 40. The aluminum futures warehouse receipt is 24855 tons, a decrease of 1126 tons from the previous day. LME aluminum inventory is 546250 tons, an increase of 1200 tons. On January 25, 2024, aluminum ingots were destocked from 8000 tons to 412000 tons, and aluminum rods were accumulated from 8000 tons to 116500 tons. The latest data from the General Administration of Customs shows that in 2023, the cumulative import of un forged aluminum and aluminum materials was 3.0598 million tons, a year-on-year increase of 28.0%. Among them, in December, China imported 323400 tons of unwrought aluminum and aluminum materials, a year-on-year increase of 25.2%. In 2023, China imported a total of 141.38 million tons of aluminum ore sand and concentrate, a year-on-year increase of 12.9%. Among them, China imported 11.87 million tons of aluminum ore sand and concentrate in December, a year-on-year increase of 17.5%. In December 2023, China exported 129900 tons of alumina, with a cumulative export of 1.2647 million tons from January to December 2023; In December 2023, imports reached 267900 tons, an increase of 107.67% month on month and 115.70% year-on-year. From January to December 2023, the cumulative import volume was 1.8265 million tons, a year-on-year decrease of 9.63%; In December, the net import of alumina was 138000 tons, and the cumulative net import from January to December 2023 was 562900 tons. In December, the import of raw aluminum reached 175000 tons, a decrease of 9.9% month on month and a year-on-year increase of 37.2%. In 2023, the total import volume of primary aluminum was 1.542 million tons, an increase of 130.8% year-on-year. The Spring Festival holiday is approaching, and China has entered a traditional off-season. It is expected that aluminum prices will show a fluctuating trend in the future, with a reference operating range of 18500 to 19600 yuan in China. Overseas reference operating range: $2150 to $2450.