echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > Downstream demand recovery is slow, and the pattern of aluminum price fluctuations is difficult to change

    Downstream demand recovery is slow, and the pattern of aluminum price fluctuations is difficult to change

    • Last Update: 2022-12-18
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    On Friday, the main contract of Shanghai aluminum 2004 morning opened short positions, aluminum prices recorded a long black line, opened at 13675 yuan / ton, and then the decline is difficult to change all the way down, fell at 13615 yuan / ton after a slight hover, the second wave of bears concentrated in the afternoon increased positions of nearly 3,000 hands, the main force under pressure continued to fall, stepped down the ladder, maintained around 13585 yuan / ton oscillation, and finally closed at 13580 yuan / ton, down 95 yuan / ton, down 0.
    69%.

    Intraday metals mostly closed down, and aluminum prices are difficult to get rid of the impact
    of macro trading sentiment under the background of weak fundamentals.

    Shanghai aluminum

    In terms of the external market, Lun aluminum opened at 1713 US dollars / ton, the opening fell below all moving averages, and did not show a counter-upward trend during the day, but fell all the way, the European market stabilized at the beginning of the 1705 US dollars / ton, but because of the lack of upward opportunity, the superimposed US index is still at a high level, and then continued to probe, the low level is close to the 1700 US dollars / ton mark, as of 17:20, Lun aluminum low slightly returned, closed at 1705 US dollars / ton, recorded a small black line, down 7 US dollars / ton, down 0.
    41

    In terms of the market, aluminum futures were mainly range-bound before noon of the month
    .
    The mainstream spot trading price in Shanghai, Wuxi and Hangzhou markets is concentrated between 13500-13520 yuan / ton, which is around 90 yuan / ton lower than the previous day's price, the spot liter discount is between 100 ~ 90 yuan / ton, and the transaction price of the morning market is around
    13540 yuan / ton.
    The intraday market supply is relatively sufficient, and the holders are active in shipments, but the willingness of middlemen to receive goods is general, and the transaction between the two parties is flat
    .
    Traders reported that some downstream alloy factories and profile factories have a small amount of stock, but it is not obvious
    .
    The overall intraday transaction in East China is average
    .
    In the late afternoon, aluminum remained low and volatile, although the holders had quotations around 13,500 yuan / ton, and the discount on the plate was about 80 yuan / ton, but there was almost no transaction
    .

    Worries about the epidemic still exist, inventories continue to increase, and downstream demand is slow, the pattern of aluminum price fluctuations is difficult to change, spot aluminum fell 50 within the day, and scrap aluminum was flat
    .
    The main force of Shanghai aluminum still fluctuates in the range of 1.
    36-13,800, and the short-term expected range volatility market remains unchanged, and the operation can be bought in small quantities on the dip
    .

    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.