echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > March 5 Shanghai aluminum afternoon review

    March 5 Shanghai aluminum afternoon review

    • Last Update: 2022-12-21
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    Overnight, Shanghai aluminum fluctuated
    in a narrow range.
    On the plate, nickel's sharp decline led to a weakening
    of the overall sentiment of the colored sector.
    In addition, last night, Powell spoke about the abnormal volatility of U.
    S.
    long-term bonds, but there were not many measures, and the yield of 10-year Treasury bonds rose sharply again, stirring up financial market changes and re-emerging liquidity
    tensions.

    Shanghai aluminum

    In the market, the price of Chinalco East China AOO aluminum ingots was 17580 yuan / ton, up 150 yuan
    .
    Recently, downstream enterprises have a strong wait-and-see mood, and some downstream enterprises mainly take goods on demand; The supply side of electrolytic aluminum has risen steadily, and inventories have maintained a cumulative trend, and spot aluminum prices are expected to fall
    today.

    From a fundamental point of view, the social inventory of aluminum ingots is still in the accumulation cycle, and the downstream aluminum rod inventory has also increased greatly, and the next key point is whether the current rise in aluminum prices can be smoothly transmitted
    to the terminal.
    The current macro sentiment is slightly out of touch with fundamentals, and we will focus on demand landing in March
    .
    In addition, the near-far monthly price difference has widened again, although it has been the norm in the past two years, but it also represents the intervention of industrial speculative funds in the market, and it remains to be seen
    whether it can still play a strong supporting role in prices this year.

    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.

    Contact Us

    The source of this page with content of products and services is from Internet, which doesn't represent ECHEMI's opinion. If you have any queries, please write to service@echemi.com. It will be replied within 5 days.

    Moreover, if you find any instances of plagiarism from the page, please send email to service@echemi.com with relevant evidence.