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Today's Shanghai aluminum main month 2110 contract, opening 21430 yuan / ton, the highest intraday 21500 yuan / ton, the lowest 21195 yuan / ton, settlement 21140 yuan / ton, the end of the close to 21385 yuan / ton, up 245 yuan
.
Today's Shanghai aluminum high volatility, the third batch of aluminum reserves is less than expected, Guangxi power rationing is further tightened and the impact of dual control of energy consumption, superimposed on the power generation and aluminum ladder price policy under the National Development and Reform Commission, multiple favorable factors to boost aluminum prices again
.
Today, Lun aluminum ran at a high level, and the LME was reported at $2,718 / ton at 15:01 Beijing time for three months, up $64, or 2.
41%,
from the previous session's settlement price.
In terms of the market, today's spot trading price of Yangtze River is 21220-21260 yuan / ton, up 210 yuan; Guangdong South Reserve reported 21280-21340 yuan / ton, up 210 yuan; Hua reported 21270-21310 yuan / ton, up 210 yuan
.
The cargo holder has lowered the shipment, the receiver purchases at a low price, the trading performance is average, and the overall transaction is average
.
In terms of macro, in order to do a good job in ensuring supply and price stability in the electrolytic aluminum industry and preventing malicious speculation and irrational sharp rise in aluminum prices, the China Nonferrous Metals Industry Association held a video conference
for backbone electrolytic aluminum enterprises on the afternoon of August 30, 2021.
The total electrolytic aluminum production capacity of participating enterprises exceeded 30 million tons, accounting for more than 70%
of the total electrolytic aluminum production capacity in China.
On the consumer side, 11 key companies produced 707,000 vehicles in early to mid-August 2021, down 34.
3%
y/y.
Among them, passenger car production decreased by 28.
9% y/y; Commercial vehicle production decreased by 44.
1%
y/y.
Following Goldman Sachs' cut in its third-quarter U.
S.
GDP forecast, Bank of America followed suit by cutting its third-quarter GDP forecast to 4.
5%
from 7%.
On the supply side, Guangxi Power Grid issued a notice requiring some enterprises in the province to limit power and production
.
Among them, the output of electrolytic aluminum enterprises in September shall not exceed 80% of the average output in the first half of the year, which means that the production will be reduced by 20%
on the basis of the previous average monthly output.
Guangxi has a total production capacity of 2.
65 million tons, which is equivalent to a monthly output of 220,000 tons, and a 20% decrease is a decrease of 44,000 tons per month
.
The output of electrolytic aluminum enterprises in Changji area of Xinjiang also received a notice that it should not exceed the average monthly output
of the annual capacity plan.
At present, the southwest and northwest production capacity restrictions linkage, aluminum prices are expected to continue to rise
.
