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Demand recovery is less than ideal or limits the upside of Shanghai-aluminum

 Last Update: 2022-12-24
 Source: Internet
 Author: User

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Today's Shanghai aluminum main month 2204 contract, opening 23400 yuan / ton, the highest intraday 24255 yuan / ton, the lowest 23400 yuan / ton, settlement 21740 yuan / ton, the end closed at 24020 yuan / ton, up 385 yuan, up 1.
63%; The trading volume of the main 2204 contract of Shanghai aluminum increased by 42,717 lots 431539 the whole day, and the position volume 231811 decreased by 5,938 lots
.

Shanghai aluminum

Today's high volatility of Lun aluminum, LME three-month Beijing time at 15:01 at 4008 US dollars / ton, up 168 US dollars, or 4.
37%,
from the previous trading day's settlement price.

Today's Shanghai aluminum in the morning straight up after the high run, the conflict between Russia and Ukraine continues to intensify the market's concerns about the supply disruption of Rusal, superimposed on Lun aluminum continued to brush a record high, Shanghai aluminum passively followed up, spot aluminum prices short-term performance is strong
.

In terms of the market, today's spot trading price of Yangtze River was 23850-23890 yuan / ton, up 420 yuan; Guangdong South Reserve reported 23810-23870 yuan / ton, up 380 yuan; Hua reported 23890-23930 yuan / ton, up 420 yuan
.
The holder ships at a high price, the price adjustment range is limited, and the receiver undermines the price to supplement the low-price source, and the transaction is
acceptable.

Overall, the domestic downstream new consumer orders are weak and the capital is tight, and the current consumption of orders before the Spring Festival is mainly used, so the demand recovery is not ideal, which may limit the upside of aluminum prices, but the operating capacity is still low, coupled with China's two sessions to deliver good news to boost the market, and inflation expectations strengthened, can still drive market risk sentiment, now aluminum or limited rise and fall
.

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