echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > China's data picks up, and the center of gravity of aluminum prices continues to rise

    China's data picks up, and the center of gravity of aluminum prices continues to rise

    • Last Update: 2022-12-01
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    Market: Today, the main force of Shanghai aluminum opened at 11820 yuan / ton, PMI returned to the boom and bust line, short risk aversion intensified, closed positions and exited, the main center of gravity of Shanghai aluminum continued to rise, the high touched 11920 yuan / ton, at the end of the session, the bulls closed their positions at a high profit, and the aluminum price fell slightly to close at 11890 yuan / ton, up 135 yuan / ton
    .

    Aluminum prices

    On the macro front: Today's official and Caixin China March manufacturing data both picked up, boosting non-ferrous metal prices
    .
    However, with the opening of real estate regulation, the growth rate of real estate sales may decline in the future, and lead to a slowdown in the growth rate of real estate investment, and the space for non-ferrous rebound is limited
    .

    Spot market: East China social inventory continued to decline, circulation spot is tight, spot prices continue to be strong, the period aluminum rose from small discount to flat water to premium in the month, Wuxi circulation source is relatively more than Shanghai and Hangzhou, spot price is slightly lower than the price of Shanghai and Hangzhou, immediately ushered in the Qingming small long holiday, downstream stocking efforts increased, the overall market transaction picked up
    sharply.
    Downstream enterprises in South China increased their stocking efforts during the three-day holiday of Qingming, and the high prices and good transactions in the early stage triggered the competition of cargo holders, and the market circulation of goods increased significantly, and the market transaction was active
    .

    News: The growth of demand for bauxite in China's aluminum smelters has gradually pushed up global bauxite prices
    .
    Global bauxite prices remained high at US$78.
    3 (A$104) per tonne before bauxite prices fell in May 2014
    .
    At present, bauxite prices are slowly recovering, and the price of high-quality bauxite in the Chinese market is close to $
    50 per ton.

    Today's Shanghai aluminum rose sharply, because the Qingming small long holiday, resulting in the market profit-taking, it is expected that short-term aluminum prices will continue to maintain a strong volatility trend
    .
    Qingming small long holiday return, it is expected that the main force of Shanghai aluminum will be exchanged to the 1606 contract
    .
    Lun aluminum is strong and rising Shanghai aluminum, the market atmosphere is more, and the target ahead is 12000
    .

    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.