Crude oil fell on the impact of aluminium recycling
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Guangzhou waste recycling company said the high energy consumption of the original aluminum production makes the price of aluminum and energy prices are closely related. Since 09 years, the United States crude oil prices and the correlation between the LME aluminum price of more than 90%, LME aluminum price trend and the United States in recent months, crude oil trend has a very close contact. In June this year, the crude oil market &ldquo, &rdquo, OPEC, said in a statement, OPEC decided to keep oil production target at 30000000 barrels / day unchanged. OPEC cuts led to the collapse of oil prices, oil prices fell to reduce production cost of primary aluminum smelter, more light production enthusiasm.
But need to note is that in August this year, oil prices and all inclusive price of aluminum to divergence, we think mainly due to crude oil prices quickly collapse, and aluminum, due to tight supply of overseas has been strong, smelter although smelting cost benefit but the capacity to rapidly due to the release said waste recycling company in Guangzhou.
Waste recycling companies in Guangzhou said the crude oil price downturn reducing the smelter production cost, and Al Lun premium high makes smelter in after years of losses started to show a profit. Russian Aluminum this year, three quarterly show net profit of $220000000, an increase of 90%. As of the 3 quarter, its smelting cash costs from $1971 / ton dropped to $1739 / ton, the same overseas smelter cash costs are also basic at $1800 / ton