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News about coal/aluminum production factory production is unlikely to make prices rebounded sharply

by:AAG     2020-11-06

news about coal/aluminum production factory production is unlikely to make prices rebounded sharply in recent two reports about potential production, we have some potential production news recently to solve question for investors. Electrolytic aluminium profile manufacturer: weiqiao will immediately cut 250000 tons of coking coal production capacity: four companies will be in 6 - Cutting 14 million tons of raw coal production in September, about 4% of the total domestic production of coking coal: no government intervention, production is difficult to perform four coking coal production enterprise's influence on the output seems to be similar to 276 - day limit production policy. We think it is difficult to perform, because: 1) This is not the government issued production seemed to make; 2) Most of the coal enterprises under the current prices are profitable, small business is unlikely to follow production yet. We noticed that the government in 2016 to only 276 days to leak policy intervention in coal production enterprises, the aluminum manufacturers because the industry is suffering serious losses, and risk of bank non-performing loans. Now as the independent electricity generation enterprise inventory, before the summer peak power coal prices rebounded to 587 yuan/ton, more than 500 - The government guidance price 570 yuan/ton; We believe that the government is unlikely to limit production policy. However, we do think these message will help prices stabilised ( Year-to-date shanxi hard coking coal prices fell 21%) , but it will not cause prices rebounded sharply. Electrolytic aluminium profile manufacturer: any to production process should be relatively smooth we think weiqiao production seems to be one response to the reform of the supply side, but it is too soon today to industry to start mass production immediately. Although both news said production target for the unqualified production capacity, but we do not consider the supply side of the aluminium profile manufacturer industry reform will be as strict and iron and steel industry of intermediate frequency furnace shut down. Irregularities of aluminium profile manufacturer production tends to be the latest high efficient production capacity, and the intermediate frequency furnace products poor quality. Government encourages coal capacity cap-and-trade also shows its market-oriented way to retain the intentions of the optimal capacity. We think any to capacity could be co-ordinated action of the provinces, its aim is to reduce price volatility.
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