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November 17 Shanghai aluminum brief comment

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

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domestic

early development

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Overnight aluminum shock is weak
.
There are many explanations for this round of rebound, but from the perspective of Shanghai aluminum months, it is still playing the near-month card, that is, the warehouse receipt is tight, which is also the market's continued optimism about aluminum consumption
.
In addition, from the recently announced domestic aluminum social inventory again to the warehouse, showing the resilience of consumption, combined with the forecast of production and imports, the apparent consumption of electrolytic aluminum demand is still good
.

Shanghai aluminum

In terms of inventory, the latest social inventory of electrolytic aluminum displayed on Monday fell to about 615,000 tons, and low stocks supported electrolytic aluminum prices more obviously
.

Entering the traditional electrolytic aluminum consumption off-season in November, terminal consumption has not weakened, automotive home appliances photovoltaic and other industrial orders have increased significantly, automobile production in October increased by 11% year-on-year, and demand in the fourth quarter was better than market expectations
.

Although the supply of electrolytic aluminum rose as scheduled, but the inventory still continued to decline, the electrolytic aluminum market showed the characteristics of double supply and demand, and it is expected that the "high profit + high demand" situation of electrolytic aluminum will continue
.
After Biden's election, the market's risk appetite has increased significantly, and with the success of Pfizer's vaccine research and development, the market's concerns about the new crown epidemic have weakened, and investors can continue to hold
long positions in the early stage.

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