Kt Kingtronics 2018 Latest Market Information for Aluminum E-Cap

MLCC prices have risen in the past two years as demand for capacitive components for smart phones, electric cars, drones, the Internet of things and smart home appliances has skyrocketed.

Nichikon in 2018 January issued a notice, because including aluminum material suppliers have announced the price Increase, Nichikon took a lot of measures still Can't absorb all the price increases.

With higher power costs in Japan and environmental restrictions in China, manufacturers have been forced to cut production, and the supply of foil for key materials has become critical.

Nichikon's investment has exceeded the possible return on profits, So announced the radial and screw type aluminum electrolytic capacitor all models price increase 5%.

According to the report, the upstream raw materials of aluminum electrolytic capacitors have been strictly controlled by the government for the treatment of wastewater, and some small manufacturers have been eliminated, causing the supply of aluminum foil to exceed supply and the price is rising.

Main raw materials include aluminum electrolytic capacitor electrode foil, aluminum, lead, electrolytic paper, rubber plug, etc., the electrode foil is the key base material, the production of aluminum electrolytic capacitor is used for carrying charge, 30% to 60% of the cost of aluminum electrolytic capacitor production.

Because the electric erosion foil, turned to foil power consumption is high, because the electrode foil production and excitant gas emissions of acid waste water, the government this year, for the environmental protection strict control waste water line environmental pressures lead to part of the production capacity, small aluminum foil factory is on the way out.

Due to factors such as environmental protection to shut down, on the other hand, also the aluminum foil upstream prices rise, they said, aluminum materials account for about 50% of the aluminum foil overall cost, aluminum raw material price from $1800 a metric ton in early 2017, to have risen to $2200 in December 2017, the aluminum foil material in October and November 2017 to rise about 8% to 10%, the future of aluminum foil material whether to start the second wave of price, to be seen to supply market conditions and environmental cost factors.

In addition, according to intelligence research consulting, electrode foil suppliers mainly in Japan and China, including mainland China important producer of aluminum foil, about 70-80% yield, because Japan electrode foil manufacturers structural adjustment, air conditioning, household appliances, washing machines and other electrical appliances product capacitor foil material quantity required, vendor to mainland China aluminum foil manufacturer.

Electronic aluminum foil industry before 2012, due to the rapid development of the industry, short supply, low gross profit margin, manufacturers have a large expansion of production. After 2013, due to excess capacity and declining profits, increasing environmental protection equipment may drive up the cost of products. Some manufacturers have low initial rate of work and low enthusiasm for environmental investment. Environmental protection requirements are becoming more and more strict. In the case of small increase in the price of electronic aluminum foil, enterprises are not motivated to re-produce by environmental protection. The cycle of environmental transformation is longer, and even if the money is raised, it will be difficult to reproduce in the short term.

Aluminum plant now think that shortage of 2018 high school low pressure aluminum foil are likely, there is no one company can assure you can get enough supply of goods, Taiwan companies, according to the aluminum foil in short supply, shortage of mainland China in November and December aluminum foil influence degree in about 15% to 15%.

中文：

由于智慧手机、电动汽车、无人机、物联网和智慧家电设备对于容阻元件的需求狂增，在过去两年中，MLCC价格领涨。

尼吉康2018 年 1月10日发布通知称，因包括铝材在内的原材料供应商已经宣布涨价，尼吉康采取了很多措施仍无法消化所有的涨价，在日本电力成本增加以及中国环境法规限制的情况下，制造商被迫减产，主要材料箔纸的供应问题变得至关重要。尼吉康的投资金额已超出利润可能回报的水平，因此宣布调整插脚式和螺杆式铝电解电容所有型号涨价5%。

据报道，近期铝电解电容的上游原材料受政府严格管控废水处理额度，部分小厂商遭淘汰出局，造成铝箔供不应求、价格喊涨。

铝电解电容器主要原材料包括电极箔、铝壳、引出线、电解纸、橡胶塞等，其中电极箔是生产铝电解电容器的关键性基础材料，用于承载电荷，占铝电解电容器生产成本的30%-60%。

由于电蚀箔、化成箔耗电量高，由于电极箔生产会排放酸性废水和刺激性气体，政府今年为环保严格管制废水处理额度，环保压力加大导致部分产能停产，小型铝箔厂被淘汰出局。

另一方面，由于环保关停等因素导致也铝箔上游铝价上涨，业者表示，铝材料占铝箔整体成本大约50%，铝原料价格从2017年初每公吨1800美元，到2017年12月已涨到2200美元，铝箔材料2017年10月到11月涨幅约8%到10%，未来铝箔材料是否启动第2波涨价，需观察供给市况和环保成本因素。

此外，根据智研咨询统计， 电极箔供应厂商主要来自日本和中国大陆，其中中国大陆为铝箔重要生产地，占据约70～80%产量，由于日本电极箔厂商结构调整， 空调、家电、洗衣机等家电产品所需电容器铝箔材料量大，厂商向中国大陆铝箔厂商购买铝箔产品，因此也造成中国大陆铝箔供不应求。据悉，铝箔自2017年6月之后开始供不应求，在日系厂商同步不扩产之下，铝箔供应吃紧，且以这次被限缩严重的中高压铝箔尤甚。

电子铝箔行业在2012年以前因行业发展较快，供不应求，毛利率较低，厂家进行大量扩产。2013年后，因产能过剩，利润下降，增加环保设备可能抬高产品成本，部分厂商原本开工率就较低，对于环保投入的积极性不高。环保要求日趋严格，在目前电子铝箔价格小幅上涨的情况下，企业通过环保改造复产的积极性不高；环保改造的周期较长，即便筹集资金进行改造，短期内也很难复产。

目前铝电厂认为，2018年高中低压铝箔均可能短缺，没有哪一家厂商敢保证自己可以拿到足额货源，台湾业者称，铝箔供不应求，中国大陆11月、12月铝箔短缺影响程度约在15%-25%。

Supplier Company: Kingtronics International Company www.kingtronics.com
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