11 listed aluminum companies' performance in the first half of the year pre -increased car and electric power into aluminum demand "responsibilities"

Data from Oriental Fortune Choice shows that as of July 16, 14 of the 26 Aluminum listed companies in A shares have released the first half of the performance forecast, of which 13 have achieved profitability and only one loss. Compared with the same period last year, 11 have been growing, of which 7 net profit increases such as Shenhuo and East Sunshine exceeds 100%.

"In the first half of the year, aluminum prices were in the same period in recent years, and aluminum companies had good profitability. At present, the performance forecast of listed companies in the industry meets market expectations." A non -ferrous industry analyst told the Securities Daily reporter that in terms of demand, although in terms of demand As a traditional aluminum household in the real estate industry, the prosperity of the real estate industry is low, but the amount of dosage in the automotive and power sector has remained increasing, which has become the main responsibility for the incremental demand for aluminum demand.

Running at a high level of aluminum prices

A number of aluminum companies' performance pre -increased

Public data shows that since the first half of 2022, the epidemic has repeatedly superimposed the geopolitical conflict upgrade, resulting in aluminum prices fluctuated all the way. Among them, Shanghai Aluminum rushed to 24020 yuan/ton, approaching a record high; Lun Aluminum's new high, up to $ 3766/ton. The price of aluminum is high, and many listed aluminum companies have issued pre -increase announcements.

On July 15th, Hongchuang Holdings issued a preview of the performance. It is expected to make a profit from January to June 2022 to June. The company said that in the first half of 2022, the rise in aluminum prices at home and abroad, the favorable export of exchange rate fluctuations, optimization of product structure, and strengthening cost control are the key to the company's achievement of turning losses.

On July 12, Shenhuo shares issued a pre -increase announcement in the first half of the year. It is expected that net profit will be 4.513 billion yuan in the first half of the year, an increase of 208.46%year -on -year. The reason for its growth is that in addition to the production of 900,000 tons of Yunnan Shenhuo Aluminum Co., Ltd., the price of electrolytic aluminum and coal products has increased significantly year -on -year.

The aforementioned analyst said that aluminum prices are mainly due to geopolitical conflict disturbance, on the one hand, affecting the supply of raw aluminum, on the other hand, pushing European energy prices, leading to an increase in aluminum smelting costs. Divered by LME, the profits of domestic electrolytic aluminum companies rose to high. According to estimates, at that time, the industry's average profits of aluminum aluminum had reached about 6,000 yuan. Enterprise production was high, and at the same time, it drove the export of domestic aluminum products.

However, after the Fed's radical interest rate hike, and the domestic epidemic was repeated, aluminum prices began to fall. Among them, Shanghai Aluminum fell to 18,600 yuan/ton; Lun Aluminum fell to $ 2420/ton.

Although aluminum prices were presented in the first half of the year, the overall profitability of aluminum companies was good. Shanghai Steel Union analyst Fang Yijing told the "Securities Daily" reporter that "from January to June 2022, the average cost of weighted electrolytic aluminum was 16,764 yuan/ton, and Shanghai Steel Lian Aluminum ingot was available from January to June that month. The average price of 21406 yuan/ton is compared, and the average profit of the industry is about 4600 yuan/ton, an increase of 548 yuan/ton compared with the same period last year. "

Real estate downturn

The demand for automobile power is "responsible"

From the perspective of my country's electrolytic aluminum terminal consumer market, construction real estate, transportation and electrical electronics are the three major areas of the most major areas, with a total proportion of more than 60 %. In addition, it is also applied in the field of durable consumer goods, packaging and machinery and equipment.

According to data from the National Bureau of Statistics, from January to May this year, the national real estate development investment was 5213.4 billion yuan, a year -on -year decrease of 4.0%. The sales area of ​​commercial houses was 50.738 million square meters, a year -on -year decrease of 23.6%. The construction area of ​​real estate development enterprises was 831.525 million square meters, a year -on -year decrease of 1.0%. The new construction area of ​​the house was 51.628 million square meters, a decrease of 30.6%. The completion area of ​​the house was 23.362 million square meters, a decrease of 15.3%. According to MySteel statistics, the total output of aluminum materials from January to May this year was 2.233 million tons, a decrease of 50,000 tons year -on -year.

"Although the proportion of aluminum in the construction real estate industry decreased from 32%in 2016 to 29%in 2021, aluminum demand in the fields of transportation, electrical electronics, packaging, etc. The lightweight trend of new energy vehicles and body is significant, and the continuous rise in aluminum for transportation has become the leading force for the growth of aluminum demand. In the context of steady growth, new energy infrastructure is also expected to work, and the construction of photovoltaic and power grids has greatly improved aluminum use in the electronic power industry.

According to data released by the China Automobile Association a few days ago, with the joint efforts of all parties, the automotive industry has gone out of the lowest valley in April. In the first half of the year, the automobile production and sales were 12.117 million and 12.057 million, respectively. Among them, the production and sales performance in June was better than the same period of history. The monthly and sales of cars were 2.499 million and 2.502 million, respectively, an increase of 29.7%and 34.4%, respectively, an increase of 28.2%and 23.8%year -on -year. In particular, the continuous improvement of the penetration rate of new energy vehicles will drive the rapid growth of aluminum products.

The first securities believed that in 2022, the amount of aluminum for new energy vehicles in my country will reach 1.08 million tons, an increase of 380,000 tons compared with the same period last year.

The demand for aluminum in the photovoltaic industry is mainly two parts: frame and bracket. The aluminum volume of photovoltaic borders is about 13,000 tons/gWh, and the aluminum amount of photovoltaic installed brackets is about 7,000 tons/GWh. Fang Yijing believes that in the context of steady growth, new energy infrastructure will make efforts. It is expected that the aluminum volume of the photovoltaic industry in 2022 is 3.24 million tons, an increase of 500,000 tons year -on -year.

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