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    Home > Chemicals Industry > New Chemical Materials > July 8 Shanghai aluminum brief comment

    July 8 Shanghai aluminum brief comment

    • Last Update: 2022-12-22
    • Source: Internet
    • Author: User
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    Today's aluminum prices continued to fluctuate weakly, but the overall downside was limited, as of the close of 3 p.
    m.
    , the main 2108 contract of Shanghai aluminum closed down at 18755, down 140, or 0.
    74%.

    Shanghai aluminum

    In June, there was no new production capacity released in the electrolytic aluminum industry, but the resumption of production capacity was still promoted, and the previous production capacity reduction did not resume production as scheduled, resulting in a decrease
    in electrolytic aluminum production this month.
    And according to Baichuan Yingfu, there is still uncertainty about whether Yunnan will resume production as scheduled in July, and according to the current production increase and decrease, the output in July 2021 is about 3.
    29 million tons.

    According to the calculation of 1.
    93 tons per ton of aluminum alumina, China's alumina supply surplus in June was 294,500 tons, which was basically a slight surplus
    .

    Recently, there was news at the Fed meeting, some officials believe that they should start to reduce the QE expectation plan in advance, macro sentiment has been setback, and the high level of London aluminum has fallen; Affected by this, Shanghai aluminum has also declined, and market consumption has weakened, and the basic support of aluminum prices has gradually weakened; However, at the beginning of the week, domestic inventories are still dematerializing, short-term Shanghai aluminum still has some support at the 18,500 below, aluminum prices mostly maintain high range shocks, the upstream and downstream of the operation can temporarily wait and see or bargain on demand replenishment, spot aluminum or continue to be weak
    .

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