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新能源	锂锂矿锂化合物金属锂镍镍矿镍铁精炼镍镍盐高冰镍 MHP 钴电解钴钴粉氯化钴四氧化三钴硫酸钴钴中间品氧化钴碳酸钴钴酸锂锰锰矿电解锰电池级硫酸锰锂电正负极三元前驱体磷酸铁正极材料石油焦针状焦包覆沥青人造石墨硅碳负极硅氧负极电解液隔膜隔膜电解液电芯

氧化铝拐点如期出现，电解铝利润有望缓解

2025-01-14 09:13:17 来源：北方有色网责任编辑：管理员

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近日沪铝下跌，宏观悲观预期叠加消费淡季导致了价格下跌。不过电解铝利润迎来利好，主要系氧化铝价格开始下跌，预计跌价会持续。我们之前判断氧化铝的价格拐点在11月末，主要逻辑系铝土矿供应的边际宽松，本周几内亚博凯和博法地区铝土矿发运转好，叠加国内电解铝企业亏损较为严重，导致氧化铝现货价格出现一定松动。电解铝企业盈利反转在即。

企业层面，氧化铝自供率较低的云铝股份和神火股份，成本压力有望得以减轻。

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