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    Home > Chemicals Industry > New Chemical Materials > Limited fundamental support There is still pressure above aluminum prices

    Limited fundamental support There is still pressure above aluminum prices

    • Last Update: 2022-12-20
    • Source: Internet
    • Author: User
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    Today's Shanghai aluminum main month 2011 contract opened at 14700 yuan / ton, the highest intraday 14710 yuan / ton, the lowest 14550 yuan / ton, settled 14620 yuan / ton, and closed at 14585 yuan / ton, down 170 yuan
    .
    Today, Shanghai aluminum opened low and went low, high profits promoted production capacity launch, inventory dematerialization slowed down, fundamental support was limited, and there was still pressure
    above aluminum prices.

    Aluminum prices

    Today's London aluminum shock operation, LME three-month aluminum Beijing time at 15:00 at 1819 US dollars / ton, down 1 US dollars, or 0.
    05%,
    from the previous trading day's settlement price.

    Today's spot trading price of Yangtze River is 14720-14760 yuan / ton, down 150 yuan; Guangdong South Reserve reported 14700-14760 yuan / ton, down 130 yuan; Hua reported 14830-14850 yuan / ton, down 140 yuan
    .
    Holders actively shipped, large households received goods enthusiasm is acceptable, downstream on-demand procurement, transaction activity slightly rebounded
    .

    U.
    S.
    President Donald Trump issued a statement on Tuesday saying that the tariffs on Canadian imports of primary aluminum were officially lifted, but threatened to reinstate the tariffs if aluminum imports on the northern border of the United States surged
    .

    At present, the market is still in the contradiction between the contradiction of medium and long-term excess and short-term low inventory support, and the consumption performance in recent weeks is more in line with expectations, and the actual consumption has not weakened significantly, even if the supply continues to grow, but the inventory is difficult to accumulate
    significantly.
    Of course, the contradictions in the medium and long term cannot be ignored, and the upward momentum is also limited, so it is difficult for aluminum prices to get out of the shock pattern
    in the short term.

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