Drought fears raised output in Yunnan short term to stabilize the main Shanghai aluminum - aluminum, the stock market - the HVAC industry

Drought fears raised output in Yunnan short term to stabilize the main Shanghai aluminum - aluminum

, the stock market - the HVAC industry

HC HVAC & R Network Excess supply of domestic aluminum particularly in the international market, but domestic consumption steadily, excess inventory is gradually digested. However, output in Yunnan drought concerns, formed on the aluminum support. The author believes that aluminum prices below the space is limited, mainly short-term to stabilize.

Current news to attract investors in Yunnan dry eyes, dry weather, supply shortages, while the aluminum smelter in the cost of electricity 40% of the total cost, although there is no output of the affected message, but the psychological level there is support on the aluminum . Yunnan Electric Power capacity nearly 70% in the station, due to experience the most severe drought in half a century, Yunnan began late last year from lack of power, and intended for high energy-consuming and highly polluting enterprises limited power.

As power shortage, power-hungry aluminum smelters will be affected, Yunnan Aluminum aluminum production in 2008 was 40 million tons, continuing dry conditions, the water level of protection smelting enterprise worth focusing on, in terms of power compared to This can not be more resistant. Yunlvgufen securities who said the company are prepared to have a certain gap in the electricity supply situation, the company will have some of the old equipment maintenance.

In addition, the London Metal Exchange (LME) aluminum inventories fell by the continued momentum to rebound a few months, and this week the formation of large aluminum market popular pressure. LME aluminum inventories decreased 15 from 6705 to 4,512,725 tons, and 16 to a total of 18 LME aluminum inventories increased 105,475 tons, of the stock on March 18 in the week on December 31 last year, 96,608 tons or 32% increase.

Premium for spot reduction of aluminum, the aluminum into the spot market, delivery to the LME warehouse inventories last week rose to 4.6 million tons of aluminum over. April 1 LME warehouse rental warehouse delivery will rise, which could lead to outflow of LME stocks, and mortgage financing arbitrage margins will narrow, which is very bad for aluminum prices, investors will watch the flow of aluminum stock.

Consumption can not be too pessimistic, however, does not mean increased consumption of stagnant inventory, but the actual growth rate of consumption growth is less than the supply. February apparent domestic aluminum consumption growth rose by 48% of the initial estimates; the world Bureau of Metal Statistics data show that in January the global aluminum demand up 20%. Aluminum Corporation of China said that China's aluminum consumption is expected to increase by 20% to 16.5 million tons, alumina demand is expected to increase 33% to 3,500 tons.

OECD countries to maintain the upward trend in overall demand, the United States in January of raw aluminum imports of non-alloy chain increased 0.7% to 44,764,193 kilograms, while the U.S. primary aluminum production in February fell 12.8% year on year to 1,697,850 tonnes, suggesting that demand has picked up momentum in the U.S. good.

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