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On Monday, the main contract of Shanghai aluminum futures opened at 18,730 yuan, with the highest intraday touch of 18,780 yuan and the lowest test of 18,325 yuan; So far, the main force of Shanghai aluminum has fallen by 0.
91% to 18440 yuan
.
In the external market, as of now, LME aluminum opened at $2301.
00, the highest price was $2307.
00, the lowest price was $2278.
00, and now it is $2283.
00
.
On the supply side, the global supply side of electrolytic aluminum will continue to decrease, the problem of energy shortage in Europe is difficult to alleviate, aluminum companies still have the risk of reducing production, and the domestic Yunnan region is facing further production
reduction.
In terms of demand, aluminum downstream consumption has rebounded, but the overall level is still not as good as in previous peak seasons
.
At present, the unilateral logic is not clear, the cost of electrolytic aluminum is strongly supported, limiting the space below, and the rise still depends on whether domestic consumption can continue to improve
.
Industry news, from October 9 to October 16, the export volume of electrolytic aluminum in major regions of China was about 154,000 tons, a decrease of 26,000 tons from the previous period, and 134,000 tons
in the same period last year.
In terms of regions, the outbound volume of Gongyi and Foshan decreased significantly; Wuxi, Hangzhou, Chongqing and Tianjin shipments decreased slightly; Shipments in Shanghai, Shenyang and Changzhou remained stable
.
In terms of news, Alcoa said that it is lobbying the White House to block U.
S.
imports of Rusal and will support U.
S.
sanctions
against the Russian aluminum industry.
The London Metal Exchange (LME) has been asked to delist Rusal from the market
.
Overseas, following the LME plan to ban Rusal, Alcoa also announced that it banned the import of Russian aluminum ingots, if the measures are implemented, it will mainly cause a shortage of aluminum supply in Europe and the United States, and the blocked aluminum in Europe and the United States is likely to flow to China, India and other places
.
Then China exports aluminum in the form to supplement the shortcomings of these regions, resulting in a relatively strong domestic passive follow-up of aluminum and short-term improvement
.
The overall macro suppression and fundamental support interact with each other, and aluminum prices are expected to fluctuate
in range.
