echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > Aluminum prices rebound intraday shock rebound There is limited room for continued rebound

    Aluminum prices rebound intraday shock rebound There is limited room for continued rebound

    • Last Update: 2022-12-04
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    Today's outer aluminum market continues to be closed due to the impact of the Christmas holiday
    .
    The main 1702 contract of Shanghai aluminum continued its overnight rally this morning, slightly rushing up to 12,720 yuan, and fluctuating around 12,700 yuan, before the afternoon, the price rose sharply again, and rushed up to a maximum of 12,815 yuan
    in the afternoon.
    At the close, the price closed at 12,790 yuan, up 190 yuan, or 1.
    51%.

    Today's Shanghai aluminum rose sharply, but breaking through the 13,000 yuan mark is a signal that aluminum prices are rising again, and investors are currently advised to remain cautious.

    Aluminum prices

    In terms of the market, today's spot trading price of Yangtze River is 12730-12770 yuan / ton, up 190 yuan / ton; Guangdong South Reserve reported 13030-13130 yuan / ton, up 60 yuan / ton; Hua reported 12840-12860 yuan / ton, up 190 yuan / ton; The average domestic spot trading price is between
    12750-12790 yuan / ton.
    Near New Year's Day, Shanghai's circulation source is reduced, holders are reluctant to sell, middlemen are highly motivated to receive goods, so that the current aluminum began to turn to high premium, today's price is reported in the Yangtze River price +80 yuan / ton around, the market has not appeared such a high premium
    for a long time.
    The mainstream trading price in Shanghai in the early stage was around 12810 yuan / ton, and in the later period, with the rise of futures, spot aluminum prices rose again
    .

    In terms of news, as of December 24, Xinjiang Shenhuo Aluminum Company completed the output of 813129 tons of primary aluminum and 810015.
    99 tons of aluminum ingots, successfully completing the annual output target and ending the successful year in 2016
    .
    In 2016, in the face of the group's ambitious task of exceeding the design capacity of 810,000 tons, Xinjiang Shenhuo Aluminum Company faced the difficulties, bravely shouldered the heavy burden, increased internal pressure, and achieved year-round safe production with the concept of "ensuring safety is not survival".

    The end of the year is approaching, aluminum market traders dumped large, aluminum prices fell sharply, stimulating buyers to buy at the bottom, short-term aluminum prices or bottom stabilization, and enterprises are busy closing, market transactions are relatively light
    .
    However, with the advent of the off-season of consumption, the willingness of bulls to take profits at the end of the year is strong, and the sentiment of long is cooling, and aluminum prices continue to rebound limitedly
    .
    The main force of Shanghai aluminum shorts around 12,500 yuan sharply reduced their positions, indicating that the support below is still very strong
    .

    This article is an English version of an article which is originally in the Chinese language on echemi.com and is provided for information purposes only. This website makes no representation or warranty of any kind, either expressed or implied, as to the accuracy, completeness ownership or reliability of the article or any translations thereof. If you have any concerns or complaints relating to the article, please send an email, providing a detailed description of the concern or complaint, to service@echemi.com. A staff member will contact you within 5 working days. Once verified, infringing content will be removed immediately.

    Contact Us

    The source of this page with content of products and services is from Internet, which doesn't represent ECHEMI's opinion. If you have any queries, please write to service@echemi.com. It will be replied within 5 days.

    Moreover, if you find any instances of plagiarism from the page, please send email to service@echemi.com with relevant evidence.