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    Home > Chemicals Industry > New Chemical Materials > Aluminum is still under pressure and the sustainability of destocking is still doubtful

    Aluminum is still under pressure and the sustainability of destocking is still doubtful

    • Last Update: 2022-12-18
    • Source: Internet
    • Author: User
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    On Tuesday, the main 2005 contract of Shanghai aluminum opened at 11520 yuan / ton
    in the morning.
    After the opening, the intraday low price, and the high after the opening quickly touched 11620 yuan / ton, has not yet touched the 5-day moving average
    .
    Subsequently, Shanghai aluminum maintained oscillating operation, and the amplitude gradually narrowed, and the center of gravity moved slightly upward, closing at 11570 yuan / ton
    .

    Period aluminum

    In terms of external disk, Lun aluminum opened at 1529 US dollars / ton
    in the morning.
    During the Asian session, Lun aluminum opened stronger, touching a high of $1537 / ton before noon, and has not yet touched the 5-day moving average
    .
    In the afternoon, Lun aluminum weakened, and the shock operation smoothed out the intraday decline, and as of 15:00, Lun aluminum was reported at 1530 US dollars / ton
    .
    During the European session, the volatility of London aluminum intensified
    .
    After the switch of trading hours, Lun aluminum continued to weaken, the low once touched 1523.
    5 US dollars / ton, after Lun aluminum rebounded, as of 17:41 Lun aluminum reported 1532.
    5 US dollars / ton
    .

    In the spot market, aluminum prices remained range-bound
    before noon.
    Shanghai Wuxi area of the holder quotation between 11480-11500 yuan / ton, the price of the previous day rose around 10 yuan / ton, the plate surface discount 80-60 yuan / ton nearby, after 11:00 aluminum price slightly increased concentrated around 11510 yuan / ton, Hangzhou price between 11520-11540 yuan / ton
    .
    Intraday cargo holders are more active than the previous day, middlemen are more willing to receive goods, and the two sides can trade
    fairly.
    Downstream purchases were normal within the day, and the receiving status did not significantly improve compared with the previous day
    .
    The overall intraday transaction in East China is average
    .
    In the late afternoon, aluminum maintained range fluctuations, the holder's quotation was around 11510 yuan / ton, and the opposite plate was discounted around 50 yuan / ton, only a small number of transactions between traders, and there was almost no
    downstream.

    Although the inflection point of inventory has begun to appear, the domestic and foreign trade orders of downstream enterprises in April are relatively weak, and a certain amount of aluminum ingots were purchased due to insufficient supply of scrap aluminum, and the sustainability of inventory destocking is still doubtful, and Shanghai aluminum is still under pressure
    .

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