echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > Market inventories increased sharply again, and Shanghai aluminum fell slightly

    Market inventories increased sharply again, and Shanghai aluminum fell slightly

    • Last Update: 2022-12-09
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    On Thursday, the main monthly 1806 contract of Shanghai aluminum opened at 14405 yuan, the intraday high was 14410 yuan, the low was 14240 yuan, and the end closed at 14325 yuan, down 60 yuan / ton
    from the previous trading day.
    The international political situation is tense, the non-ferrous metal market is strong risk aversion, Shanghai aluminum fell slightly during the day, the market inventory increased again, aluminum prices do not rule out the possibility of turning down, it is recommended that investors can maintain a wait-and-see
    .

    Shanghai aluminum

    Abroad, the dollar index stopped falling and oil prices fell, Lun aluminum fell sharply, and the support below focused on $
    2200.
    At 16:39 Beijing time, the LME 3-month aluminum was $2222.
    5, down $26 from the previous session
    .

    In terms of news, the non-ferrous trend in the evening was so differentiated, copper and zinc fell sharply, and Shanghai aluminum rose
    sharply.
    Affected by the US statement on possible military strikes against Syria and the recent further sanctions against Russia, the market is worried that the dispute between Russia and the United States continues to escalate, and funds tend to be safe-off
    .
    China's Ministry of Commerce stated that it has not negotiated with the United States at any level on trade issues, and the market that has been worried about the trade war has become more suspicious
    .
    From the perspective of economic data, China's March PPI and CPI were less than expected, considering the impact of the dissipation of holiday factors, the impact on the market was not large
    .

    In the market, the spot trading price of Yangtze River was 14160-14200 yuan / ton, falling to 50 yuan / ton; Guangdong South Reserve reported 14130-14230 yuan / ton, down to 110 yuan / ton; Hua reported 14260-14280 yuan / ton, down to 60 yuan / ton; The average domestic spot trading price is between
    14170-14210 yuan / ton.
    Intraday aluminum fell slightly, the shipment of holders was stable, middlemen and downstream cautiously received goods, and the market transaction was relatively weak
    .

    In terms of inventory, the domestic electrolytic aluminum social inventory has declined slightly for many weeks, and the inventory may lead to an inflection point, while the tightening of the policy on captive power plants may have a certain impact on the resumption of production and new production of electrolytic aluminum enterprises, and aluminum prices have been supported; However, the price of raw materials including alumina, anode carbon and coal has fallen, and it is difficult for aluminum prices to rise sharply, and the short and medium term or shock between 13800-14800
    .

    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.