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Aluminum prices are not recommended to chase too high prices and prices are difficult to see the end

 Last Update: 2022-12-20
 Source: Internet
 Author: User

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Today's Shanghai aluminum main month 2012 contract opened at 15865 yuan / ton, the highest intraday 16110 yuan / ton, the lowest 15810 yuan / ton, settled 15970 yuan / ton, and closed at 16060 yuan / ton, up 260 yuan
.
Today's Shanghai aluminum trend is strong, social inventory remains low, China's demand performance is still good, although electrolytic aluminum production capacity continues to release, but before the inventory accumulation obviously, aluminum price above pressure is limited
.

Aluminum prices

In the external market, Lun aluminum trend is stronger, LME three-month aluminum Beijing time at 15:00 at 1993.
5 US dollars / ton, up 8 US dollars, or 0.
40%,
from the previous trading day's settlement price.

In terms of the market, today's spot trading price of Yangtze River is 16090-16130 yuan / ton, up 180 yuan; Guangdong South Reserve reported 16220-16280 yuan / ton, up 170 yuan; Hua reported 16210-16230 yuan / ton, up 190 yuan
.
Holders actively shipped, traders waited and watched, the overall purchasing atmosphere was light, and the transaction was average
.

Industry news, Standard Chartered Bank expects the average aluminum price in 2020 to be 1728 US dollars / ton, and the average aluminum price in 2021 is 1971 US dollars / ton
.
Bank of America said in a report that it expects the average price of aluminum to be $1,699 per ton this year, and the average price of aluminum in 2021 is expected to be $
2,000 per ton.

The market is full of optimism, aluminum prices are facing not only the positive of forcing shorts, but also from the macro good, the price of a new high seems reasonable
.
The main logic of aluminum prices will remain in the short-term contradiction, that is, the continuous destocking under low inventory, market funds are willing to continue to amplify short-term contradictions, and it is difficult for the price to see the end, but it is not recommended to chase too high, wait and see
.

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