 Home > Chemicals Industry > New Chemical Materials > Macro pressure eases Shanghai aluminum or continue to maintain range volatility

Macro pressure eases Shanghai aluminum or continue to maintain range volatility

 Last Update: 2022-12-23
 Source: Internet
 Author: User

Tags

lmct 100 2

high pressure symbol

Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

Today's Shanghai aluminum main month 2201 contract, opening 18815 yuan / ton, the highest intraday 18945 yuan / ton, the lowest 18720 yuan / ton, settlement 18755 yuan / ton, the end of the close to 18870 yuan / ton, up 115 yuan, or 0.
61%; The trading volume of the main 2201 contract of Shanghai aluminum increased by 3841 lots 277806 the whole day, and the position volume 178045 decreased by 9306 lots
.
Today's Shanghai aluminum opened high in the morning and fluctuated downward, the afternoon shock rebounded to pick up, the new supply of domestic electrolytic aluminum is limited, and the output remains low, but there is an expectation of weakening real estate consumption in the terminal market, and sustainability is still uncertain.

Shanghai aluminum

Today, Lun aluminum bottomed out, and the LME was reported at $2,632 / ton at 15:01 Beijing time for three months, up $8, or 0.
29%,
from the previous session's settlement price.

In terms of the market, today's spot trading price of Yangtze River is 18760-18800 yuan / ton, up 110 yuan; Guangdong South Reserve reported 18840-18900 yuan / ton, up 80 yuan; Hua reported 18820-18860 yuan / ton, up 100 yuan
.
Holders continued to reduce shipments for realization, receiving parties purchased at multiple prices, insufficient willingness to replenish stock, poor overall trading, and average trading volume
.

In terms of stocks, the domestic electrolytic aluminum community continued to decline to 978,000 tons, compared with 1.
013 million tons
in early November.
Electrolytic aluminum stocks on the London Exchange fell by 4,800 tonnes, but available inventories rebounded slightly to 690,000 tonnes, and the closure of China's import window since October and the seasonal decline in trade premiums in overseas regions led to fewer write-offs of warehouse receipts
by shipholders.

At present, it is difficult to increase supply significantly, and demand has turned to the off-season, and supply and demand are weak
.
Domestic destocking, but the intensity may be relatively limited, London destocking has slowed down, and marginal support has weakened
.
However, the recent macro pressure has eased, and aluminum prices may continue to maintain range volatility
.

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.