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July 23 Shanghai aluminum noon comment

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

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Yesterday, the main contract of Shanghai aluminum opened at 14400 yuan / ton in the morning, opened up at 14435 yuan / ton and then fell, continuously fell to a low of 14350 yuan / ton, and then reduced its position and rebounded around 14450 yuan / ton; In the afternoon, the market fluctuated in a narrow range, oscillating in the range of 14400-14450 yuan / ton, and closed at 14390 yuan / ton at the end of the day, and the daily close was a small doji.

Shanghai aluminum

Yesterday night, the main force of Shanghai aluminum opened low at 14305 yuan / ton, opened low to 14260 yuan / ton, and then fluctuated at 14300 yuan / ton, began to climb up after 23 o'clock, and closed at 14385 yuan / ton
at the end.
The accumulation rate of inventories is slow, spot stocks are still premium, and domestic demand has performed well
under policy stimulus.
It is expected that the main operating range of Shanghai aluminum today is 14200-14600 yuan / ton
.

The price of Chinalco East China AOO aluminum ingots was 14,530 yuan / ton, up 100 yuan
.
Norwegian producer Hydro said global primary aluminum consumption fell 9% year-on-year in the second quarter; The World Bureau of Metal Statistics (WBMS) reported that the global primary aluminum market was oversupplied by 908,000 tons from January to May, and oversupply put pressure, and spot aluminum prices are expected to fall
slightly today.

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