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    Home > Chemicals Industry > New Chemical Materials > Aluminum prices stabilized from a low level, and downstream demand weakened at the end of the year

    Aluminum prices stabilized from a low level, and downstream demand weakened at the end of the year

    • Last Update: 2022-12-20
    • Source: Internet
    • Author: User
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    On Monday, the main 2103 contract of Shanghai aluminum encountered obstacles to the upside, with the highest 15120 yuan / ton and the lowest 14760 yuan / ton within the day, closing at 14945 yuan / ton, up 0.
    27% from the closing price of the previous trading day; In the external market, LME aluminum rose slightly, as of 15:00 Beijing time, 3-month Lun aluminum was reported at $2,000 / ton, up 0.
    28%
    per day.

    Shanghai aluminum

    Market focus: As of January 24, the number of confirmed cases in the world has exceeded 570,000 per day, and the cumulative number of confirmed cases has exceeded 99 million, of which the United States is the most affected country
    .

    Spot analysis: On January 25, spot A00 aluminum reported 15010-15050 yuan / ton, the average price was 15030 yuan / ton, up 30 yuan / ton
    per day.

    Warehouse receipt inventory: the total number of Shanghai aluminum warehouse receipts on Monday was 80,265 tons, a daily decrease of 927 tons, a continuous decline of 5 days; On January 22, LME aluminum stocks were 1416775 tons, down 2,475 tons
    per day.

    Main positions: the top 20 long positions of Shanghai aluminum main 2103 contract are 94217 lots, a daily increase of 2141 lots, short positions 111369 lots, a daily increase of 3823 lots, a net short position of 17152 lots, a daily increase of 1682 lots, long and short increases, and net space increases
    .

    At the end of the year, downstream demand turned weak, and spot premiums weakened, making aluminum prices lack upward momentum
    .
    However, the recent closure of the import arbitrage window has inhibited the inflow of overseas goods, and the market transaction has improved slightly due to the decline in aluminum prices, and the recent decline in Shanghai aluminum inventories has stabilized from the low
    .
    Technically, the mainstream short position of the main 2103 contract of Shanghai aluminum increased its position greatly, facing the resistance of the 20-day moving average, and it is expected that the short-term shock adjustment
    .

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