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November 12 Shanghai aluminum afternoon comment

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

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Overnight, Shanghai aluminum AL2012 continued to be strong, rising 235 yuan on the day, up 1.
57% intraday, the highest intraday 15190 yuan, the lowest 14875 yuan, to the close of 15180 yuan, holding 155,100 lots, trading volume 124,500 lots, an increase of 15,611 lots
.

Shanghai aluminum

In the market, the price of Chinalco East China AOO aluminum ingots was 15350 yuan / ton, up 190 yuan
.
Domestic terminal market consumption performance exceeded expectations, automobile production and sales have been growing for seven consecutive months, the current aluminum ingot social inventory continues to decline, demand may show off-season phenomenon, it is expected that spot aluminum prices will rise
today.

After Biden's election, the market's risk appetite increased significantly, and with the success of Pfizer's vaccine research and development, the market's concerns about the new crown epidemic have significantly weakened
.
In the industry, the social inventory of electrolytic aluminum has fallen below 650,000 tons, and the low inventory supports the price of electrolytic aluminum more obviously
.
The downstream terminal consumption margin is good, orders for automobiles, home appliances, photovoltaics and other industries have increased significantly, and demand in the fourth quarter is better than market expectations
.
The profit of electrolytic aluminum plant is still high, and many electrolytic aluminum plants have been put into operation under the stimulation of profits, and the supply of electrolytic aluminum has risen
as scheduled.
However, inventories still continue to decline, and the electrolytic aluminum market shows the characteristics
of double supply and demand.

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