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    Home > Chemicals Industry > New Chemical Materials > Destocking power is still There are signs of stabilization in aluminum prices in the short term

    Destocking power is still There are signs of stabilization in aluminum prices in the short term

    • Last Update: 2022-12-21
    • Source: Internet
    • Author: User
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    The year is approaching, some downstream enterprises reserve rhythm and aluminum ingot transportation problems determine the short-term trend, and from the trend point of view, short-term aluminum prices have signs of stabilization, Shanghai aluminum rose on Friday, as of the close, the main 2103 contract closed up 1.
    32% to 15005, up 195
    from the previous trading day.

    Aluminum prices

    In terms of spot, the mainstream spot trading price in Shanghai, Wuxi and Hangzhou markets was concentrated between 14850-14890 yuan / ton, down 40 yuan / ton, flat water 60-liter 40 yuan / ton
    .

    In terms of inventories, LME aluminum stocks decreased by 4,050 tons to 1424175 tons on the previous day; The aluminum warehouse receipt of the previous period increased by 3731 tons to 80445 tons
    .
    On January 28, data showed that the weekly social inventory of electrolytic aluminum accumulated 13,000 tons to 682,000 tons
    .

    Fundamentally, domestic output in January was about 3.
    3 million tons, up 8% year-on-year, and the supply increase was obvious
    when imported goods arrived at Hong Kong.
    In terms of consumption, the seasonal weakening of terminal orders in January was transmitted
    to processing and procurement.
    Supply and demand are weakening, and short-term transportation problems are difficult to change the accumulation trend and then reduce aluminum prices
    .

    Non-ferrous metals in the overnight futures market rebounded to varying degrees, and Shanghai aluminum followed a slight recovery
    .
    In terms of rhythm, the momentum of destocking in the peak season is still there, and it is optimistic that aluminum prices and price spreads will strengthen
    after the holiday.

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