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Downstream consumer demand can still provide support for aluminum prices

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

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Today's Shanghai aluminum main month 2110 contract, open 21370 yuan / ton, the highest intraday 21980 yuan / ton, the lowest 21300 yuan / ton, settlement 21295 yuan / ton, the end of the close to 21730 yuan / ton, up 435 yuan
.
Today's Shanghai aluminum is running at a high level, the supply side continues to be affected by power restrictions and production restrictions and dual control of energy consumption in Guangxi, Xinjiang and other places, and it will take time for electrolyzers to recover, superimposed on the third batch of reserves is not as expected, and downstream consumer demand is acceptable, providing support
for aluminum prices.

Aluminum prices

Today's Lun aluminum is strongly volatile, LME three-month Beijing time at 15:01 at 2759 US dollars / ton, up 26 US dollars, or 0.
93%,
from the previous trading day's settlement price.

In terms of the market, today's spot trading price of Yangtze River is 21610-21650 yuan / ton, up 300 yuan; Guangdong South Reserve reported 21720-21780 yuan / ton, up 310 yuan; Hua reported 21670-21710 yuan / ton, up 310 yuan
.
The cargo holder ships at a small price, the receiver has more price pressure, the trading atmosphere is acceptable, and the overall trading volume is average
.

At present, the global aluminum ingot inventory is still at a relatively low level, and the release of electrolytic aluminum production capacity under the influence of domestic energy consumption dual control and power restriction is slow, which has a great stimulus to aluminum prices, and the superimposed supply is becoming increasingly tight, and aluminum may rise
.

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