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Today's Shanghai aluminum main month 2210 contract, opening 18675 yuan / ton, the highest intraday 18755 yuan / ton, the lowest 18330 yuan / ton, settlement 18955 yuan / ton, the end closed at 18360 yuan / ton, down 595 yuan, down 3.
14%.
Today's Shanghai aluminum shock bottomed out, under the influence of the bearish atmosphere, Shanghai aluminum trend is weak, Sichuan power eased, refineries began to gradually resume work and production, but in the case of weak demand and difficult to change, aluminum prices continue to bottom.
Today's Lun aluminum is running weakly, and the LME was reported at $2433 / ton at 15:01 Beijing time for three months, down $57, or 2.
31%,
from the previous session's settlement price.
In terms of the market, today's spot trading price of Yangtze River is 18530-18570 yuan / ton, down 410 yuan, discount 50-discount 10; Guangdong spot 18390-18450 yuan / ton, down 360 yuan, discount 190-discount 130; Hua reported 18590-18630 yuan / ton, down 400 yuan / ton
.
In the spot market, the holders took the initiative to reduce the price to stimulate shipments, while the bearish atmosphere spread to the receiving party to reduce the price and purchase on demand, oversupply and poor trading
.
Industry data, data released by the International Aluminum Association (IAI) showed that global alumina production in July 2022 was 12.
53 million tons, down 2.
69% month-on-month and up 3.
52%
year-on-year.
From January to July, global alumina production fell by 0.
86% year-on-year to 80.
438 million tons
.
Among them: China's alumina output in July was 7.
05 million tons, an increase of 3.
07% month-on-month and 11.
02%
year-on-year.
From January to July, China's output increased by 2.
13% year-on-year to 45.
01 million tons; Alumina production in Oceania in July was 1.
707 million tons, an increase of 3.
77% month-on-month and a year-on-year decrease of 4.
64%.
From January to July, the output of Oceania fell by 3.
06% year-on-year to 11.
945 million tons, and the output of alumina in Africa and Asia (excluding China) in July was 2.
01 million tons, compared with 1.
25 million tons
in the same period last year.
Overall, in the short term, under the influence of the Fed's aggressive interest rate hikes, the overall macro performance is bearish, and the domestic downstream demand support is insufficient, resulting in a sharp decline in prices, and it is expected that Shanghai aluminum will continue to decline in recent days.
The lower support level needs to refer to 18,000; the recent price trend As we said earlier, macro directivity once again promoted the price downward, but the emotional promotion is still relatively short-lived, after the decline aluminum prices may continue to maintain around 18,000 to stabilize, whether there can be a substantial bottoming rebound still needs to pay attention to the recovery of
demand.
