Global Aluminium Sheet Prices Online
North America
Aluminium
Sheet prices in the US market showed downward sentiment in the final
quarter of 2022 due to lower end-user inventory levels amid bearish sentiment.
According to manufacturers, transportation bottlenecks occurred in October
caused by a lack of containers, shippers, and truck drivers, and long lead
times at ports and other transportation hubs were the primary causes of this
tightness. In mid-Q4, headwinds such as the US and LME's ban on Russian
aluminium increased the price of an Aluminium sheet. However, during the
Thanksgiving holiday, the price of aluminium ingots fell. According to some
market participants, the benchmark aluminium premium for Russian and
non-Russian aluminium continued to diverge, particularly in light of renewed market
speculation that the US may ban Russian aluminium. Alcoa, the largest aluminium
producer in the United States, had warned investors that rising energy and raw
material costs, as well as a drop in aluminium prices, were putting pressure on
margins. Many end users began their new year's vacation earlier than usual this
year, despite a slowdown in demand for aluminium sheets.
Asia Pacific
Aluminium sheet prices in China
rose in the fourth quarter of 2022 as domestic pandemic prevention and control
measures eased. Downstream operating rates fell in China, partly due to the
week-long National Day holiday at the start of the quarter. Furthermore, the
resurgence of the pandemic following the holiday disrupted downstream
enterprise production in Henan and Shandong, causing industry demand to fall.
Furthermore, downstream demand was low during the traditional off-season. Some
aluminium processing plants planned to close early to celebrate the Chinese New
Year. Aluminum billet conversion margins plummeted to discounts, while
aluminium sheet spot premiums plunged and diverged across regions. Premiums in
Gongyi fall down due to a drop in terminal demand and orders. Domestic
operating capacity increased further in December due to the approaching winter
and New Year's Day, with restarts in Sichuan and Guangxi and new capacity
released in Inner Mongolia and Gansu.
Europe
In the German market, Aluminium
Wire prices showcased a mixed outlook in the fourth
quarter of 2022 amid falling premium costs. Aluminium supplies were intact, as
the LME had decided not to ban trading in the metal produced in Russia or store
it in its warehouses, as substantial players in the market planned to buy
Russian aluminium in 2023. Market participants were concerned about further
production cuts in European alumina refineries and aluminium smelters due to
rising energy costs. Europe's refinery and smelter maintenance plans had not
returned to normal since the pandemic began. Aluminum manufacturers claimed
that the situation was dire; production had been cut by nearly 50%. Due to weak
spot demand and falling underlying premiums, market participants noted that a
low-carbon upcharge for upstream aluminium billet required significant effort.
However, the outlook for downstream demand was bleak; suppliers of aluminium
ingots were hesitant to sell inventories at lower prices. The end-of-year
restocking drive was unlikely to happen this year. As demand for aluminium
ingots fell, many end users started their new year's vacation earlier than
usual.
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