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    Home > Chemicals Industry > New Chemical Materials > Brief review of Shanghai aluminum on October 29

    Brief review of Shanghai aluminum on October 29

    • Last Update: 2022-12-23
    • Source: Internet
    • Author: User
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    Overnight, Shanghai aluminum 2112 closed at 20420, up 710, and LME aluminum closed at 2748, up 82.
    5
    .
    Today's aluminum price continued to fluctuate, once rose to above 20500, but the late rise gradually slowed down, as of the close of three o'clock, the main 2112 contract of Shanghai aluminum closed up at 19870, up 160, or 0.
    81%.

    Shanghai aluminum

    In terms of the market, the average price of holders in the morning tested the waters, the market supply circulation is abundant, the medium-term market discount of 30 yuan / ton, only a small amount of transactions, yesterday the holders are still actively shipping, the downstream terminal just needs to replenish, the market is buying low, the overall transaction in the South China market is average
    .

    Recently, the National Development and Reform Commission has continued to issue documents to regulate the prices of black energy products, indicating its determination to guide prices back to the normal range; Affected by this, short-term aluminum price fluctuations are more violent, ups and downs, and the current basic face of poor price support, the supply side is gradually destroyed, it is expected that Shanghai aluminum continues to rebound under greater pressure, but considering the price of low after the market consumption gradually rising, inventory is expected to turn to destocking, short-term main force at 19000 or still have some support, the overall fluctuation range can refer to the 19000-20500 range, the operation can be temporarily wait-and-see
    .

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