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Inventories continue to degrade and support Shanghai aluminum shock upward

 Last Update: 2022-12-18
 Source: Internet
 Author: User

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Today's Shanghai aluminum main month 2007 contract opened at 12420 yuan / ton, the highest intraday 12570 yuan / ton, the lowest 12390 yuan / ton, settled 12505 yuan / ton, and closed at 12535 yuan / ton, up 130 yuan
.
Inventories continue to degrade support, today's Shanghai aluminum shock upward, the industry shutdown plan slowed down, and aluminum ingot import window, suppressing the subsequent aluminum price trend
.

Shanghai aluminum

In terms of external trading, today's Lun aluminum rushed back down, and the LME three-month aluminum was reported at 1492 US dollars / ton at 15:00 Beijing time, unchanged from the settlement price of the previous trading day
.

In terms of the market, today's spot trading price of Yangtze River is 13000-13040 yuan / ton, up 180 yuan; Guangdong South Reserve reported 13010-13070 yuan / ton, up 150 yuan; Hua reported 13120-13140 yuan / ton, up 190 yuan
.
Holders are more active in shipments, middlemen receive goods normally, downstream on-demand purchase is the mainstay, and the overall transaction is acceptable
.

Due to the recovery of aluminum prices in the early stage, the smelting loss was basically smoothed, resulting in a decline in the expectation of subsequent production cuts, and downstream orders are expected to weaken after mid-May, so the logic of aluminum prices maintaining strong volatility in the short term under the support of spot prices began to loosen, continue to pay attention to the subsequent reduction speed, aluminum prices may begin to consolidate
at a high level.

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