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Downstream consumption is still weak Shanghai aluminum short-term continuation of shock adjustment

 Last Update: 2022-12-25
 Source: Internet
 Author: User

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Today's Shanghai aluminum main month 2207 contract, opening 20710 yuan / ton, the highest intraday 20880 yuan / ton, the lowest 20655 yuan / ton, settlement 20835 yuan / ton, the end closed at 20755 yuan / ton, down 80 yuan, down 0.
38%; The trading volume of the main 2207 contract of Shanghai aluminum increased by 33055 lots 215238 lots, and the position volume 181567 increased by 6229 lots
.
Today's Shanghai aluminum is weak and volatile, the recent macro atmosphere has not changed much, aluminum fundamentals are also stable, supply is still rising, downstream consumption is still weak after the epidemic, Shanghai aluminum short-term continued shock adjustment
.

Shanghai aluminum

In the external market, today's Lun aluminum volatility downward, LME three-month Beijing time at 15:01 at 2779 US dollars / ton, down 7 US dollars, or 0.
27%,
from the previous trading day's settlement price.

Today's spot trading price of Yangtze River is 20770-20810 yuan / ton, down 30 yuan, discount 70-discount 30; Guangdong spot 20620-20680 yuan / ton, down 130 yuan, discount 220-discount 160; Hua reported 20830-20870 yuan / ton, down 20 yuan
.
The spot market is weak and unchanged, holders follow the market and reduce to stimulate the sale of goods, receivers are still mainly based on just need to replenish, the overall procurement has not seen much improvement, and the trading volume barely rebounded
slightly.

At present, the domestic market is still in a state of weak reality and strong expectations, stimulus policies are still to be effective, consumption is still in a weak state, and production continues to rise, which is still inhibiting
the current aluminum price.
However, the marginal improvement of consumption and the strong expectation of consumption brought about by a stable domestic economy still support prices
.
Short-term aluminum prices will still be repeated
.

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