echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > May 25 Lun aluminum morning review

    May 25 Lun aluminum morning review

    • Last Update: 2022-12-05
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    Overnight Lun aluminum opened at 1943.
    5 US dollars / ton, the center of gravity of London aluminum continued to move down, the afternoon low touched 1933.
    5 US dollars / ton, the end of the session intended to rise but was resisted by the daily average, into the European trading session, the beginning of the session London aluminum inertia down, the low recorded 1932.
    5 US dollars / ton, the center of gravity of crude oil continued to rise, Lun aluminum quickly turned red, the high recorded 1958 US dollars / ton, overnight, base metals overall decline, Lun aluminum high blocked to close at 1948 US dollars / ton
    .
    The trading volume increased by 604 lots to 11597 lots, and the open position increased by 6154 lots to 678240 lots
    .

    Lun aluminum

    In terms of news, Moody's downgraded China's economic rating to suppress commodities in early trading, but the Ministry of Finance quickly refuted, non-ferrous metals bottomed out, overnight Fed minutes were not clear, believing that the US economic uncertainty was high, the dollar fell sharply, non-ferrous metals continued to recover and finally closed the long down lead
    .
    Yesterday, affected by Moody's downgrading of China's economic rating, non-ferrous metals fell rapidly, but China's Ministry of Finance refuted that prompted a rapid rebound of non-ferrous metals, and Lun aluminum once reached a new high
    .

    In terms of the market, on the day, the spot price of Lun aluminum was 1936 US dollars / ton, which was 2.
    5 US dollars / ton discount from the March contract; The inventory of aluminum in London was 1.
    48 million tons, down 9,300 tons from the previous day; the inventory of aluminum in the previous period was 318,800 tons, down 1,980 tons from the previous day; measured by the closing price of Shanghai aluminum, the actual ratio of the Shanghai aluminum 3 contract to the Lun aluminum March contract was 7.
    22 (import ratio was 8.
    57), and the import loss was 2584 yuan / ton (excluding financing income).

    The nonferrous metal market fell sharply amid increased macro pessimism, but Shanghai aluminum performed extremely resilient
    .
    At present, the contradiction in the aluminum market is not prominent, the downward driving force is not large, and there is also policy expectation support
    upward.
    In general
    , continue to wait and see.

     

    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.