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Today's Shanghai aluminum main month 2011 contract opened at 14660 yuan / ton, the highest intraday 14780 yuan / ton, the lowest 14515 yuan / ton, settled 14675 yuan / ton, and closed at 14710 yuan / ton, up 50 yuan
.
Today's Shanghai aluminum trend is strong, the supply pressure in the fourth quarter is greater than the previous period, the profit is high, the output continues to release, and the space above the aluminum price is limited
.
In terms of external trading, today's London aluminum volatility operation, LME three-month aluminum Beijing time at 15:01 at 1856.
5 US dollars / ton, up 2 US dollars, or 0.
11%,
from the previous trading day's settlement price.
In terms of the market, today's spot trading price of Yangtze River is 14920-14960 yuan / ton, down 20 yuan; Guangdong South Reserve reported 14800-14860 yuan / ton, unchanged; Hua reported 15040-15060 yuan / ton, down 10 yuan
.
Traders have long orders to purchase demand, large households are still enthusiastic about receiving goods, and transaction activity has rebounded
slightly.
In terms of news, the scale of new social financing in China in September was 3.
48 trillion yuan, compared with 3.
58 trillion yuan in the previous month, and the new RMB loans were 1.
9 trillion yuan, compared with 1.
28 trillion
yuan in the previous month.
The better-than-expected social finance data shows that the policy has not been tightened, which is generally positive
for non-ferrous metals.
However, the intensification of the epidemic in Europe and the renewed turmoil in the US election have increased market risk aversion
.
In terms of industrial fundamentals, the social inventory of electrolytic aluminum has reached 719,000 tons, and the inventory after the holiday is still accumulating
.
The profit of electrolytic aluminum plant is more than 1500 yuan / ton, and many electrolytic aluminum plants have been put into operation under the stimulation of profits, and the operating capacity of electrolytic aluminum will rise to more than 37 million tons in the fourth quarter, and the supply of electrolytic aluminum is gradually recovering
.
After September, both automobile and aluminum processing began to improve, and the overall marginal consumption of electrolytic aluminum was good
.
On the whole, Shanghai aluminum will continue to consolidate under the condition of double increase in supply and demand, and investors recommend waiting and seeing
for the time being.
