echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > April 10 Shanghai aluminum morning review

    April 10 Shanghai aluminum morning review

    • Last Update: 2022-12-09
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    Boosted by the strong Lun aluminum overnight, the Shanghai aluminum 1806 contract opened slightly higher at 14320 yuan / ton, and after a slight dip to 14285 yuan / ton at the beginning of the session, it returned to the upward mode, touching 14385 yuan / ton at a high and closing at 14370 yuan / ton, Shanghai aluminum index holdings increased by 15,692 hands to 785,000 lots, long positions increased to take the initiative, short-term in the context of strong performance of Lun aluminum, if the domestic de-inventory is sustainable, aluminum price rebound momentum is relatively strong, can bargain light positions more single participation, but the medium-term domestic electrolytic aluminum fundamentals still have strong pressure, it is expected that today's Shanghai aluminum shock operation at 14280 ~ 14480 yuan / ton, spot discount 80 ~ 40 yuan / ton
    .

    Shanghai aluminum

    The United States imposed sanctions on aluminum giant Rusal, which may lead to a reduction in global aluminum supply, while Russia, as the main source of American aluminum, is more worried about the reduction of domestic aluminum supply
    .
    And yesterday, Trump's attitude eased, trade war concerns eased, and the interference with aluminum prices weakened
    .
    Domestically, the social inventory of aluminum ingots has declined for three consecutive weeks, indicating that downstream demand is good, and Shanghai aluminum stocks are gaining momentum
    .

    Shanghai aluminum was driven by the external disk, approaching the 14,300 yuan mark
    .
    However, the lackluster domestic fundamentals also led to a significantly lower increase than the external market
    .
    The performance of Shanghai aluminum may reach a bottleneck of 14,500 yuan, but in the short term, it will still maintain a strong operating trend
    .

    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.