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The entire aluminum electrolysis industry is operating at a loss.
2020-04-13
The entire aluminum electrolysis industry is operating at a loss.
On March 26, the most active Shanghai aluminum contract closed at 11,640 yuan per tonne, down 1,965 yuan per tonne from the opening price of 13,605 yuan per tonne on February 3—a decline of 14.4%. The sharp drop in aluminum prices has swiftly reversed the electrolytic aluminum industry’s profitability, with losses spreading rapidly. According to calculations by Antaike, in March the industry’s weighted average all-in cost stood at 13,200 yuan per tonne, while the weighted average cash cost was 11,680 yuan per tonne. Compared with the current aluminum price of 11,600 yuan per tonne, the entire industry is operating at a loss across the board, with losses accounting for 100% of production; meanwhile, cash‑cost losses affect roughly 40% of producers, placing the sector under severe pressure.
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