Oil coke market weak operation, electrolytic aluminum average price rose for five consecutive years
The average market price has risen for five consecutive times this week. On the macro level, after the US banking crisis, the liquidity of the foreign exchange market may tighten again. Bank of England official Mann said that the decline in inflation expectations will allow the central bank to slow down the pace of interest rate hikes. Fundamentally, although there has been a slight repair in the supply side, the continued recovery in the downstream consumer side has driven the rapid removal of social inventory, providing support for aluminum prices; At present, the trading volume in the electrolytic aluminum market is stabilizing, and the wait-and-see sentiment in the market is still strong. It is expected that the aluminum price will fluctuate between 18150-18550 yuan/ton next week.
Market trading was weak and stable this week, and prices remained stable during the month. The main raw material coke price has fluctuated and dropped, the local coking price has continued to decline significantly, the coal tar pitch price has risen on the sidelines, and the cost side support has weakened; The spot price of downstream electrolytic aluminum rose due to the impact of macroeconomic sentiment, with market trading improving, production capacity gradually recovering, and demand side support still acceptable. In the short term, there is sufficient supply in the anode market, and there is no significant increase in downstream demand. It is expected that the anode price will maintain stable operation within the month, and there is a downward trend in the price of the new anode.
The overall market performance this week was weak, with coke prices in the main refineries weak and stable, and local refining prices stabilizing after continuing to decline. Sinopec refineries often execute contracts and orders, while production and sales are stable, while shipments from CNOOC and PetroChina refineries are average. The overall performance of the local refining market was weak, with coke prices of some enterprises continuing to decline. Currently, port inventory is still high, and downstream enterprises are in a heavy wait-and-see mood. It is expected that there is still a possibility of making up for losses in the main market next week, and the ground refining prices may slow down and gradually stabilize.