The person in charge of an electrolytic aluminum factory in Longkou City, Shandong Province, told the reporter that recently there have been strong orders for aluminum ingots at the factory, and quite a few new customers have come to place orders.
On April 25, SHFE alumina surged to 3,621 yuan/ton, +3.96% month-on-month.
Social inventories of electrolytic aluminum fell by 55,000 tons month-on-month to 841,000 tons, and storage was accelerated.
Since late February, aluminum prices have continued to fluctuate and rise. On April 15, domestic spot aluminum prices once hit a 22-month high, reaching 20,750 yuan/ton. On April 16, the latest price of spot aluminum was 20110 yuan/ton, up 7.71% from the February low.
The person in charge of an electrolytic aluminum factory in Longkou City, Shandong Province, told the reporter that recently there have been strong orders for aluminum ingots at the factory, and quite a few new customers have come to place orders.
According to information, electrolytic aluminum is mainly made into products such as aluminum sheets, strips, aluminum foil, etc., and is widely used in construction transportation, electronics and electricity, packaging containers, aerospace, etc.
From January to March of this year, the country's production of electrolytic aluminum was 10.69 million tons, up 6.8% year on year; of these, in March, electrolytic aluminum production was 3.59 million tons, up 7.4% year on year.
The agency estimates that leading alumina companies will benefit from conservative assumptions of 3,500 yuan/ton of alumina and 20,000 yuan/ton of electrolytic aluminum in 24 years.
Leading companies related to the aluminum industry:
China Aluminum (02600): No. 1 in the world for alumina and electrolytic aluminum. The company has an alumina production capacity of 22.26 million tons, a bauxite self-sufficiency rate of 52%, and an electrolytic aluminum production capacity of 8 million tons. It is expected to produce 7 million tons of electrolytic aluminum and 22 million tons of alumina in 24, with a net profit of 12.9 billion yuan to the mother, corresponding to the current PE9.4x.
Hongqiao, China (01378): The production capacity of alumina and electrolytic aluminum is the second highest in the world. The company has an alumina production capacity of 19.5 million tons, including 2 million tons in Indonesia, 100% bauxite self-sufficiency rate, and 6.46 million tons of electrolytic aluminum production capacity. It is estimated to produce 19.5 million tons of aluminum in 24, with a net profit of 21.1 billion yuan, corresponding to current PE4.8x.