Views: 2 Author: Site Editor Publish Time: 2021-12-27 Origin: Site
The first point: the aluminum industry investment out of the "winter period", investment occupy the advantage of non-ferrous plate.
It should be said that in recent years, under the background of rising risks in the external environment, China's non-ferrous metal industry investment has been affected to a certain extent, and the investment growth rate has been declining. In 2016, China's non-ferrous metal industry (including independent gold enterprises) completed the fixed asset investment of 668.73 billion yuan, maintaining negative growth year-on-year (see Figure 1). In comparison, the investment performance of China's aluminum smelting industry is stable and improving, and the growth rate of fixed asset investment in China's aluminum smelting industry reached the bottom in 2014. By 2016, China's non-ferrous metal mining and smelting profits improved substantially, with a year-on-year increase of 34.1% and 133.6% respectively.
Second point: the scale of the aluminum industry continues to grow, and the growth rate is gradually slowing down.
The average annual compound growth rate of China's electrolytic aluminum production capacity from 2008 to 2016 was 12.53%, and the average annual compound growth rate of China's alumina production capacity from 2008 to 2016 was 11.87%, both exceeding 10%.
From the trend analysis, the growth rate of China's electrolytic aluminum production capacity and alumina production capacity has slowed down gradually in the past decade. According to Zhuochuang data, the growth rate of China's electrolytic aluminum production capacity reached 30.8% in 2008. Since 2014, the growth rate of China's electrolytic aluminum production capacity has basically returned to 10%. In 2011, the growth rate of China's alumina production capacity reached 26.2%, which was significantly later than the electrolytic aluminum industry. Since 2013, China's alumina capacity growth has fallen to single-digit levels, and the capacity expansion rate has slowed significantly.
Third point: the coordinated development of aluminum industry, the integration of "coal, electricity and aluminum processing".
From the analysis of resource factors affecting the development of aluminum industry, Zhuochuang believes that electricity or coal, aluminum ore, alumina raw materials, aluminum processing and ports can be regarded as important resources affecting the future development of industry enterprises and regions. The northeast to southwest lines divide China into "upper left" and "lower right" regions. It is relatively clear that the northwest has a clear advantage in electricity or coal, while the east, central and southwest have advantages in aluminum ore and alumina raw materials, aluminum processing and ports. Natural resources determine the structure of regional industrial development.
By the end of 2016, the concentration of electrolytic aluminum industry of China's top ten aluminum enterprises reached 69.7%, among which China Hongqiao, China Aluminum Corporation and Xinfa Group occupied the top three. From the point of view of monomer, most groups electrolytic aluminum production capacity accounted for 2.5%-6% of the country, in the electrolytic aluminum industry layout, the group development is relatively balanced.
The fourth point: the implementation of policies has been "sound implementation", and the elimination of outdated production capacity has been effective.
In recent years, the government has made great efforts to resolve excess capacity, among which there are many policies or events involving electrolytic aluminum. In 2013, in particular, a series of policies were announced and state leaders vowed to curb the blind expansion of industries with serious overcapacity. In December 2013, the Notice on implementing the Stepped Electricity Price Policy for Electrolytic Aluminum Enterprises has attracted the attention of both inside and outside the industry. The provision of aluminum electrolytic electricity price and electrolytic aluminum enterprises aluminum electrolytic AC power consumption linked to force backward electrolytic aluminum capacity delisting.