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Aluminum rose sharply and the short-term upside was limited

 Last Update: 2022-12-17
 Source: Internet
 Author: User

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On Monday, the Shanghai main monthly 1912 contract opened at 13875 yuan, with an intraday high of 13960 yuan and a low of 13840 yuan, and closed at 13945 at the end, up 105 yuan / ton
from the previous trading day.
Macroeconomic data is optimistic and positive for the metals market, Shanghai aluminum rose sharply today, but it is recommended that investors should not blindly chase higher, and it is expected that the short-term upside is limited
.

Period aluminum

In the external market, inventories continued to decline support, today Lun aluminum rose slightly, the upper support focus on $
1800.
At 15:55 Beijing time, LME 3-month aluminum was $1,791, up $2/ton
from the previous session.

Spot market: today's spot trading price of Yangtze River is 14050-14090 yuan / ton, up 70 yuan / ton; Guangdong South Reserve reported 13920-14020 yuan / ton, up 70 yuan / ton; Hua reported 14150-14170 yuan / ton, up 60 yuan / ton; The average domestic spot trading price is between
14050-14090 yuan / ton.
Today's aluminum rose slightly, the willingness of holders to ship increased, downstream enterprises purchased on demand, and the market transaction was acceptable
.

Market News:

1.
Malaysia will issue bauxite mining licenses
in December or January.
The issuance of the licence marks the resumption of
mining activities following a ban on mining due to unregulated mining and water pollution in early 2016.

In February and September, China imported a total of 6.
75 million tons of bauxite, down 1.
89 million tons from 8.
64 million tons in August, recording a decline for the second consecutive month, and the monthly import volume was lower than the same period
last year for the first time this year.

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