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November 11 Shanghai aluminum noon review

 Last Update: 2022-12-20
 Source: Internet
 Author: User

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supply demand production

gasoline consumption year

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Shanghai aluminum rose
overnight.
In terms of fundamentals, domestic social stocks increased by 08,000 tons on Monday from last Friday, continuing to hover
above 600,000 tons.
In the short term, the overall inventory level of the market is still low, but from the end of the year to the first quarter of next year, consumption is likely to cool down, and inventories are expected to gradually increase, in addition, the medium-term supply increase trend is also worth paying attention to
.
It is expected that aluminum prices will face adjustment in the short term, and the operation will be
dominated by high test shorts.

Shanghai aluminum

In terms of the market, the price of Chinalco East China AOO aluminum ingots was 16640 yuan / ton, up 240 yuan
.
China's winter production restrictions have already impressed the production of aluminum smelters, raising market concerns about supply; Electrolytic aluminum social inventory has not continued to accumulate, bulls sentiment has rekindled, and spot aluminum prices are expected to rise
today.

The national electrolytic aluminum built production capacity reached 42.
75 million tons / year, but the ceiling of electrolytic aluminum production capacity has been set, and the subsequent new production capacity is limited.

On the demand side, construction aluminum and automotive aluminum have improved significantly, and the terminal demand for electrolytic aluminum is difficult to deteriorate
in the short term.
Electrolytic aluminum inventories began to decline on Thursday, and it is expected that the accumulation of subsequent inventories will be limited, overall, the fundamental drive is still upward, and Shanghai aluminum is recommended to continue to hold
.

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