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    Home > Chemicals Industry > New Chemical Materials > Aluminum prices may remain range-bound in the short term

    Aluminum prices may remain range-bound in the short term

    • Last Update: 2022-12-11
    • Source: Internet
    • Author: User
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    On Thursday, the main contract of Shanghai aluminum opened at 14095 yuan / ton in the morning, the aluminum price at the beginning of the session slightly leaked low touched 14035 yuan / ton, and then the bears gradually left the market under the aluminum price center of gravity steadily rising, once touched 14100 yuan / ton, closed at 14050 yuan / ton, the current alumina stabilized or even rebounded or for a high probability event, but the supply and demand fundamentals weakened at the same time, so short-term in the absence of sudden event disturbance, short-term aluminum price shock logic unchanged, operating range 13950 ~ 14250 yuan

    Aluminum prices

    In terms of external trading, Lun aluminum opened at 2060.
    5 US dollars / ton in the morning, the center of gravity of London aluminum steadily moved up during the Asian session, the high touched the 5-day moving average at 2080 US dollars / ton was blocked, and the end of the session into the European trading session Lun aluminum release volume fell sharply to the low level of 2032 US dollars / ton, mainly due to market rumors that the United States relaxed Rusal sanctions, and then Lun aluminum low rose back to the daily average of 2055 US dollars / ton, as of 17:13, Lun aluminum reported 2056.
    5 US dollars / ton
    .

    In terms of spot, Shanghai transaction concentration is 13970~13990 yuan / ton, the discount of the month is 10 yuan / ton to Pingshui, Wuxi transaction concentration is 13970~13990 yuan / ton, Hangzhou transaction concentration is 13980~13990 yuan / ton
    .
    Holders are actively shipping, the market has a part of 13950 yuan / ton of low-priced goods, middlemen except for a small number of spot delivery long orders, most of the middlemen receive less operation space, downstream enterprises to receive goods is weak, the overall transaction prosperity declined
    .
    In the late afternoon, the aluminum shock operation, East China transaction price 13970~13990 yuan / ton
    .

    At present, domestic aluminum companies have successively released alumina production reduction news to support aluminum prices, Shanghai aluminum rose sharply, recouped part of the decline, short-term or maintain range shock, it is recommended that investors should not chase too high
    .

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