echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > November 1 Shanghai aluminum brief comment

    November 1 Shanghai aluminum brief comment

    • 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 aluminum prices were mixed, as of 3 p.
    m.
    , the main 2112 contract of Shanghai aluminum closed down at 20025, down 210, or 1.
    04%.

    Shanghai aluminum

    As the peak season in October, the overall accumulation trend, the downstream operating rate continued to decline in September, the domestic downstream was affected by the tightening of real estate policies and power rationing consumption continued to be unsmooth, overall, the short-term market panic has not subsided, the market focuses on weak consumption, aluminum prices continue to adjust, pay attention to the progress of consumption margin improvement and cost support
    .

    From the plate point of view, the decline of aluminum prices is gradually obvious, the momentum of impulse is insufficient, and the short-term shock market may continue; Frustrated by the collapse of the cost side caused by the sharp fall in coal prices, the early rise in aluminum prices was destroyed, and although the trend of inventory accumulation has been slightly alleviated, it has not yet turned to destocking, coupled with the current interest rate hike expectations, the bears are still showing strong forces, short-term Shanghai aluminum still has the possibility of appropriate shock adjustment, the operation is mainly wait-and-see, and the spot aluminum shock is weak
    .

    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.