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Non-ferrous metals rose across the board, and aluminum prices rebounded higher

 Last Update: 2022-12-23
 Source: Internet
 Author: User

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Today's Shanghai aluminum main month 2201 contract, opening 19320 yuan / ton, the highest intraday 19575 yuan / ton, the lowest 19280 yuan / ton, settlement 19210 yuan / ton, the end closed at 19560 yuan / ton, up 350 yuan, or 0.
34%.

Today's Shanghai aluminum trend is strong, the recent relaxation of China's real estate policy stimulates consumption optimistic expectations, and the surge in coal to promote the rise in aluminum costs, coupled with Indonesia will gradually ban bauxite exports, non-ferrous metals rose across the board, aluminum prices rebounded higher
.

Aluminum prices

Today, Lun aluminum rebounded higher, and the LME was reported at $2,726 / ton at 15:01 Beijing time for three months, up $23, or 0.
85%,
from the previous trading day's settlement price.

In terms of the market, today's spot trading price of Yangtze River is 19310-19350 yuan / ton, up 210 yuan; Guangdong South Reserve reported 19360-19420 yuan / ton, up 220 yuan; Hua reported 19350-19390 yuan / ton, up 200 yuan
.
Holders actively ship goods for cash, receivers still reduce prices and less procurement, large households are generally enthusiastic about receiving goods, and the overall transaction is not happy
.

Many places in China have successively raised peak electricity prices, superimposed on coal prices rising sharply, which has raised the cost of aluminum prices, resulting in smelter capacity continuing to be limited, and aluminum may rise
.

At present, Yunnan Wenshan Aluminum has resumed production, but the supply has not yet been released
.
Overnight spot traders mainly shipped, and the overall trading situation of the market was weak
.
At present, the supply side is still relatively tight, if subsequent consumption remains stable and inventories decline, aluminum prices may stabilize
.

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