echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > Market pessimism spreads short-term aluminum price trend is weak

    Market pessimism spreads short-term aluminum price trend is weak

    • Last Update: 2022-12-23
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    Today's Shanghai aluminum main month 2112 contract, opening 21115 yuan / ton, the highest intraday 21375 yuan / ton, the lowest 20065 yuan / ton, settlement 21110 yuan / ton, the end closed to 20135 yuan / ton, down 975 yuan
    .
    Today's Shanghai aluminum continued to run weakly, the decline expanded in the afternoon, the domestic market spread a pessimistic atmosphere, thermal coal futures market plunged to the limit, aluminum prices were affected and the decline increased, superimposed aluminum ingot social inventory continued to accumulate, downstream consumer demand has not improved, short-term aluminum price trend is weak
    .

    Aluminum prices

    Today's Lun aluminum volatility is lower, LME three-month Beijing time at 15:01 at 2757 US dollars / ton, down 75 US dollars, or 2.
    65%
    from the previous trading day's settlement price.

    In terms of the market, today's spot trading price of Yangtze River is 20450-20490 yuan / ton, down 380 yuan; Guangdong South Reserve reported 20460-20520 yuan / ton, down 380 yuan; Hua reported 20510-20550 yuan / ton, down 380 yuan
    .
    The cargo holder looks at the upward adjustment and shipment of the market, the receiver replenishes the goods on demand, the purchasing enthusiasm is low, and the actual transaction activity is light
    .

    In terms of inventory, the accumulation speed of electrolytic aluminum social library accelerated to 968,000 tons, and the weekly accumulation was 17,000 tons
    .
    In terms of fundamentals, the current weakening of the margin of supply and demand, the acceleration of the pace of social library accumulation indicates that demand is more restrained, the early supply gap has basically turned to excess, coal prices continue to be under pressure, the market has recently been bearish sentiment is stronger, to some extent means that the supply and demand pattern for aluminum prices weakened, waiting for emotional factors to weaken, market attention or return to overseas energy shortage and domestic power rationing relaxation and other news in the face of production capacity impact, and the release of
    downstream demand this time aluminum prices fall.

    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.