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December 20 aluminum market morning review

 Last Update: 2022-12-23
 Source: Internet
 Author: User

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Aluminum market morning comment: France's two nuclear reactors due to a failure to stop operation, electricity prices soared, causing concerns about electrolytic aluminum production reduction, last Friday the external aluminum price rose sharply, London Stock Exchange three-month aluminum price rose nearly 2% to 2733.
5 US dollars / ton
.
Shanghai aluminum night trading was volatile at a high level, and the main 2201 contract closed at 19705 yuan / ton
.

Aluminum City

In the morning, the spot market cooled down significantly, and holders lowered their quotations and shipments, but downstream receiving goods was cautious, and middlemen were also wait-and-see
.
The mainstream trading price in Shanghai is around 19,390 yuan / ton, which is about 100 lower than the futures discount
.
The mainstream transaction price in Guangdong is around 19370 yuan / ton
.

At present, there are signs of weakening domestic fundamentals, as the year-end rush consumption enters the end, while production remains stable, inventories are expected to stabilize and gradually enter the warehouse stage
.
However, there are still concerns about production cuts in the north before and after the Winter Olympics, and there are also concerns
about production cuts overseas.
However, the production cut is expected to be fulfilled, and the Taishet aluminum smelter that RUSAL has recently delayed production has officially put into operation, with an annual capacity of 428,500 tons
.
Shortages amid weaker consumption expectations, but concerns about production cuts, aluminum prices may fluctuate
at the current relatively high level.

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