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Fundamentals have improved and aluminum prices continue to be strong

 Last Update: 2022-12-20
 Source: Internet
 Author: User

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Today's Shanghai aluminum main month 2012 contract opened at 15785 yuan / ton, the highest intraday 15945 yuan / ton, the lowest 15650 yuan / ton, settled 15805 yuan / ton, and closed at 15755 yuan / ton, up 165 yuan
.
Today's Shanghai aluminum continues to be strong, and social inventories are still declining during the off-season, suggesting that demand is performing better, although the industry's high profits have promoted the release of production capacity, but it has not yet put significant pressure
on aluminum prices.

Aluminum prices

In the external market, today's Lun aluminum shock operation, LME three-month aluminum Beijing time at 15:00 at 1991 US dollars / ton, up 1 US dollars, or 0.
05%,
from the previous trading day's settlement price.

In terms of the market, today's spot trading price of Yangtze River is 15890-15930 yuan / ton, up 160 yuan; Guangdong South Reserve reported 15890-15950 yuan / ton, up 180 yuan; Hua reported 16010-16030 yuan / ton, up 170 yuan
.
The supply of goods is still tight, the enthusiasm of large households to receive goods is general, the downstream is afraid of heights and wait-and-see, and the transaction activity is average
.

Industry news, the latest report by the World Bureau of Metal Statistics (WBMS) shows that the global primary aluminum market was oversupplied by 1.
603 million tons from January to September 2020, and 480,000 tons in 2019
.
In September 2020, primary aluminum production was 5.
5967 million tons, and the demand was 5.
4659 million tons
.

Overall, the global manufacturing recovery is strong, aluminum fundamentals have improved, after Biden's victory in the multilateral cooperation of countries smoother, the global economic recovery has been promoted, it is expected that the short-term aluminum price trend will continue to be strong and volatile, before the inventory does not show a downward trend, it is recommended to continue to hold
.

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