According to Yuefeng Aluminum statistics, the average tax-included complete cost of China's alumina industry in November 2023 was 2,685.91 yuan/ton, down 38.61 yuan/ton from 2,724.51 yuan/ton in October 2023, down 1.42% month-on-month and 3.80% year-on-year. In terms of ore, the supply of China's domestic bauxite became more and more tight in November, which in turn supported the upward trend of the price center of gravity; in terms of imported ore, the market trade pattern was still mainly based on the implementation of pre-contract, and the price remained high; in terms of liquid soda, the price of China's liquid soda market fell first and then rose in November, but due to the average performance of the overall demand, the price increase in the later period was limited, so the average price in November fell significantly compared with October; in terms of thermal coal, the sentiment of the port coal market in November warmed up in the early stage and weakened in the later stage, and the overall activity of the market was not high, so the port coal price rose but the magnitude was small。 On the whole, the cost of alkali for alumina enterprises fell in November, driving the cost focus of China's alumina industry downward.
According to statistics from Yuefeng Aluminum, the average comprehensive electricity price of China's electrolytic aluminum industry in November 2023 was 0.4375 yuan/kWh, an increase of 0.0131 yuan/kWh from 0.4244 yuan/kWh in October 2023, a month-on-month increase of 3.09%, a year-on-year decrease of 5.3%, and an annual average electricity price of 0.4432 yuan/kWh. Electricity prices have a certain delay effect on coal prices, and the market price of thermal coal rose first and then fell in October, and the overall price increased compared with September. In the early stage, the demand for replenishment in the building materials industry has been released, the market trading atmosphere is good, and the price of thermal coal has risen; in the later stage, with the slowdown of downstream procurement, the resistance to coal prices is strong, and the price of thermal coal has fallen. However, on the whole, the price of thermal coal rose compared with September, driving the price of captive electricity upward. In terms of grid power, the price of hydropower rose significantly during the flat water period. Overall, electricity prices in November were higher than in October. It is expected that hydropower prices will continue to rise in December after the official arrival of the dry season in Yunnan, but the price of thermal power may fall slightly due to the impact of coal prices.
Average cost of China's electrolytic aluminum industry in November 2023
According to Yuefeng Aluminum statistics, the average tax-included complete cost of China's electrolytic aluminum industry in November 2023 was 16,244.82 yuan/ton, up 91.2 yuan/ton from 16,153.61 yuan/ton in October 2023, up 0.56% month-on-month and down 8.1% year-on-year. In terms of alumina, in November, China's domestic alumina market was intertwined with long and short factors, and the market showed a situation of both supply and demand, but due to the high price of alumina in the early stage, although the price of alumina in November showed a downward trend, compared with October, the average monthly price rose by about 14 yuan/ton. In terms of prebaked anodes, the benchmark price of prebaked anodes in November 2023 of an aluminum plant in Shandong decreased by 97 yuan/ton compared with the price in October, and the spot price was 4,128 yuan/ton. In terms of electricity prices, electricity prices increased in November compared to October. On the whole, the theoretical cost of electrolytic aluminum continued to increase compared with the previous month. In terms of electrolytic aluminum prices, Yunnan has sharply reduced production, but the market reaction to this is relatively flat, and the shortage of worries has not been highlighted. The average price of spot aluminum in November was 18,967 yuan/ton, down 151.4 yuan/ton or 0.79% from the previous month. On the whole, the profit margin of the electrolytic aluminum industry continues to narrow, but the industry's profitability is still considerable.
(www.profiles-aluminum.com; sales@profiles-aluminum.com).
