echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > May 10 Shanghai aluminum brief comment

    May 10 Shanghai aluminum brief comment

    • 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

    Today's aluminum price exceeded 20,000 as expected, and rose again, the highest rose to 20445 yuan / ton, as of the close of 3 pm, Shanghai aluminum main 2106 contract closed up to 20420, up 725, or 3.
    68%.

    Shanghai aluminum

    In terms of fundamentals, last week's domestic social inventory decreased by 01,000 tons from the previous week to 1.
    115 million tons, the recent inventory decline rate has slowed down, short-term aluminum ingot inventory is expected to continue to decline, aluminum prices after the early surge in short-term correction risk intensified
    .
    In the medium term, the promotion of new energy is conducive to aluminum downstream consumption, superimposed on carbon neutrality and domestic policies to suppress production capacity, aluminum prices are still upward
    .

    On the market, the upward momentum of Shanghai aluminum after breaking through the 20,000 mark still exists, and the macro easing policy still has a more obvious effect on the price boost, and Lun aluminum has also broken through, rising to $2603 at the highest; In the short term, aluminum prices will continue to rise under the resonance of internal and external disks, although high prices have a certain inhibitory effect on enterprise procurement, but from the current downstream orders, demand is still in a stable upward stage, supporting aluminum prices to maintain a high level; Shanghai aluminum above temporarily pay attention to the 22000 pressure level, the operation can be bargain on demand replenishment, it is expected that spot aluminum will rise
    tomorrow.

    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.