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Aluminum prices fluctuated
strongly yesterday.
As of the close of 3 p.
m.
, the main 2302 contract of Shanghai aluminum rose to 17950, or 0.
48%.
Aluminum prices rose again after a weak opening in the morning, and once recovered during the session to break through the 18,000 mark; from a technical point of view, it remains to be seen that Shanghai aluminum short-term break to stand firm at 18,000, and the impulse energy of aluminum prices to continue to rise is limited
.
Recently, Guizhou region issued another load reduction notice, electrolytic aluminum supply continues to shrink, it is expected that the three rounds of production reduction in Guizhou region will affect a total of 800,000 tons of production capacity, new and resumed production capacity has not released the increment, so the overall supply of electrolytic aluminum is in a reduction trend
.
In terms of demand, aluminum downstream processing enterprises start performance is weak, of which aluminum strip, aluminum cable, aluminum foil operating rate declined, is currently approaching the holiday off-season, some downstream enterprises have stopped receiving orders, the market years before the enthusiasm for stockpiling is weak, it is expected that the later market transactions are light, inventory gradually accumulated
.
On the whole, the domestic aluminum market supply and demand are weak, near the holiday many downstream enterprises have early holiday plans, demand is expected to continue to be weak, but the supply side has recently been affected by Guizhou's three rounds of production reduction operating capacity has declined again, and it is expected that production will decline in January, and it is recommended to treat
it with the idea of bargain hunting.
Looking at the domestic market, pre-holiday enterprise stocking is basically nearing the end, Shanghai aluminum inventory ushered in the expected rise in recent days, but the social treasury is still at a low level, to a certain extent, it also indicates that the actual production capacity of the market is limited, supply and demand still maintain a relatively weak pattern, Shanghai aluminum short-term rise is mainly moderate, the range of rush is limited, the range of concern is 1.
78-18,200
.
