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Inventories are still slightly degrading Aluminum prices remain high in the short term

 Last Update: 2022-12-19
 Source: Internet
 Author: User

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On Monday, the main monthly 2008 contract of Shanghai aluminum opened at 14060 yuan / ton, the highest intraday was 14155 yuan / ton, the lowest was 14005 yuan / ton, the settlement was 14075 yuan / ton, and the end closed at 14125 yuan / ton, up 130 yuan
.
Shanghai aluminum ran at a high level during the day, inventories are still slightly degraded, macro sentiment continues to pick up, and short-term aluminum prices remain high
.

Aluminum prices

In the external market, Lun aluminum opened higher, and the LME three-month aluminum Beijing time was reported at 1618 US dollars / ton at 15:00, up 6 US dollars, or 0.
37%,
from the settlement price of the previous trading day.

In terms of the market, the spot trading price of Yangtze River was 14410-14450 yuan / ton during the day, up 20 yuan; Guangdong South Reserve reported 14440-14500 yuan / ton, up 10 yuan; Hua reported 14530-14550 yuan / ton, up 20 yuan
.
Cargo holders maintained premium quotations, the current supply was abundant, the enthusiasm for receiving goods was acceptable, the relative oversupply was oversupply, and the transaction was flat
.

Industry news, a few days ago, Norsk Hydro recently announced on its official website that its Paragominas mine has resumed production, and the Alunorte alumina plant will gradually resume full production
.
Previously, the collapse of 3 transmission towers directly led to the suspension of production
at the Paragominas mine.

In the short term, the market is supported by the spot end to continue to be high, but the recent decline in the operating rate of aluminum enterprises, the follow-up spot may gradually enter the off-season, pay close attention to the spot situation in the later stage, the current price risk is high, and the future market has the risk
of rushing back down.
Shanghai aluminum upper pressure 14200, lower support 13000
.

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