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July 10 Shanghai aluminum morning review

 Last Update: 2022-12-11
 Source: Internet
 Author: User

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downstream processing

vldl low level

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Overnight, the main force of Shanghai aluminum opened at 14165 yuan / ton, driven by the external disk, the bulls increased their positions, the main force of Shanghai aluminum touched 14230 yuan / ton, and then Lun aluminum fell, the bears tried to put pressure at a high level, the main force of Shanghai aluminum fell back and closed at 14175 yuan / ton
.

Shanghai aluminum

In terms of news, the implementation of Shanxi Henan open-pit mine rectification has led to a continuous rise in bauxite prices, superimposed electrolytic aluminum prices remain low, and the profit margins of alumina plants are compressed or even lost
.
At present, most alumina plants, including Chalco and Wanji, have carried out maintenance/shutdown in order to reduce costs and increase efficiency, followed by Shanxi Xinfa delaying the alumina production capacity originally planned to be put into operation in July, and the price of alumina has stopped falling to support aluminum prices
.
However, the arrival of the off-season of downstream consumption of electrolytic aluminum, the decline in the operating rate of the processing end and the narrowing of the decline in inventory, dragged down the price of aluminum in the period
.

The profit is exhausted, but the Sino-US trade war has become a foregone conclusion, and at the same time, there is no profit and more momentum at this stage, and it is expected that the main force of Shanghai aluminum will fluctuate in the short term, and the operation will be 14050~14250 yuan / ton
within the day.

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