echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > Doubtful consumption sustainability Aluminum rebound height is limited

    Doubtful consumption sustainability Aluminum rebound height is limited

    • Last Update: 2022-12-13
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    Overnight LME March electronic trading closed at $2010/ton, up 0.
    17%; The Shanghai aluminum 1812 contract closed at 14140 yuan / ton at night, down 0.
    25%.

    Period aluminum

    In terms of inventory, LME aluminum stocks were 1062350 tons, down 4,375 tons from the previous trading day, and the aluminum warehouse receipts in the previous period were 626601 tons, down 6,330 tons
    from the previous trading day.

    In terms of spot, Shanghai trading concentration is 14100~14120 yuan / ton, the discount for the month is 70~50 yuan / ton, Wuxi transaction concentration is 14100~14120 yuan / ton, Hangzhou transaction concentration is 14130~14140 yuan / ton
    .
    On the whole, after the rising price of aluminum, traders have adjusted prices, and the downstream is basically purchased on demand, holding a wait-and-see attitude
    towards prices.
    In the afternoon, the transaction price in East China was concentrated between 14100~14140 yuan / ton, and the transaction was light
    .

    In terms of alumina, East China alumina quoted 3080 yuan / ton, unchanged from the previous trading day; Central China first-class alumina quotation of 3050 yuan / ton, unchanged from the previous trading day; North China primary alumina quotation of 3020 yuan / ton, unchanged
    from the previous trading day.

    In terms of news, the central bank's high-level statement on releasing liquidity and tax reduction plans stimulated the A-share market sharply, while improving the risk appetite of the commodity market, and Shanghai aluminum first suppressed and then rose
    .
    On the raw material side, due to the continued strength of mine prices and the decline in alumina prices eroding profits, some alumina companies announced maintenance or production reductions, consolidating the support of alumina prices at the 3,000 yuan / ton mark, and the main risk of dragging down aluminum prices since some time ago was lifted
    .
    The suppression of consumption before the National Day was released after the holiday, which also helped aluminum prices to stick to the 14,000 yuan / ton mark in the short term, but the sustainability of consumption is doubtful, and the rebound of Shanghai aluminum is highly limited
    .

    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.