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November 22 Shanghai aluminum afternoon comment

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

Tags

supply demand production

aluminum price history

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At present, aluminum prices still have two-way fluctuation risks, the fundamental inventory inflection point is unknown, coupled with the reduction of alumina prices has led to a decline in costs, on the other hand, supply is still tight, demand margin has become better, it is expected that Shanghai aluminum is still mainly volatile, maintaining the pattern of external strength and internal weakness
.

Shanghai aluminum

In terms of inventory, electrolytic aluminum stocks continued to increase by 3.
3W tons
this week.
Overseas, US consumption and manufacturing data continued to improve, affecting the US dollar index to continue to rise, which negatively affected non-ferrous metals
.

At present, with the expected phased landing of the decline in coal prices, the logic of the cost side is gradually stable, although the price of alumina has further pullback demand, but electrolytic aluminum enterprises for profit demand, Shanghai aluminum has a trend of continued rebound, but there is not much
space.

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