echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > January 9 aluminum market morning review

    January 9 aluminum market morning review

    • Last Update: 2022-12-04
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    In the night market on Friday, the external aluminum market fluctuated higher, rising for the third consecutive day, of which the 3-month Lun aluminum rose 1.
    15% to 1718 US dollars / ton, and the daily closing price was close to the high since December 22 last year, thus making Lun aluminum return to the interweaving of the moving average group, indicating that the willingness to fall has weakened
    .

    Aluminum City

    Industry news: Alcoa said it will temporarily close its Suralco alumina refinery and bauxite
    mine, Suriname.
    In the fourth quarter of 2016, it incurred $90 million in expenses as a result of the restructuring of the Suralco project in
    Suriname, the company said.
    Alcoa said it was holding talks
    with the Surinamese government about the project's survival.

    Market: On January 6, Shanghai aluminum trading concentrated 12650-12660 yuan / ton, and the flat water to the premium of the month was 30 yuan / ton
    .
    East China's overall supply is sufficient, spot prices are the same as yesterday, downstream consumption has entered the off-season, premium has declined slightly, holders have stable shipments, aluminum has fluctuated in a narrow range, spot premiums continue to decline, middlemen can participate in a limited way, spot prices have entered a stable and weak period, downstream enterprises purchase on demand, weekend stock demand has weakened, and the overall transaction volume has shown stable
    prices.

    Inventories: As of January 6, LME aluminum stocks reported 2217025 tons, an increase of 11,100 tons or 0.
    5% from last week, marking three consecutive weeks; In the same period, the aluminum inventory in the previous period was reported at 104537 tons, a weekly increase of 3,815 tons, the highest point since September 14 last year, which is a five-week increase, but far below the average inventory value of 200,000 tons
    during the year.

    On Friday, the main contract of Shanghai aluminum in the night market closed up to 12665 yuan, slightly weaker than Lun aluminum, because after the short-term aluminum price continued to fall, the technical support of M200, that is, 12500 yuan / ton, below is still effective
    .
    In terms of operation, it is recommended that the Shanghai-aluminum 1703 contract can be backed by 12550 yuan above the dip, and the entry reference is around 12620 yuan, and the target is 12800 yuan
    .

    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.