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    Home > Chemicals Industry > New Chemical Materials > November 23 aluminum market morning review

    November 23 aluminum market morning review

    • Last Update: 2022-12-03
    • Source: Internet
    • Author: User
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    Overnight, the external aluminum market rose strongly, of which 3-month Lun aluminum rose 2.
    44% to 1760.
    5 US dollars / ton, ranking first among base metals, and effectively broke through the upper moving average suppression, and the rebound resistance focused on the previous high of 1794.
    5 US dollars / ton
    .

    Aluminum City

    Industry information: According to data from the International Aluminum Association, the total global (excluding China) primary aluminum production in October was 2.
    169 million tons, an increase of 73,000 tons month-on-month, while China's primary aluminum production in October decreased by 24,000 tons month-on-month to 2.
    727 million tons, an increase of 52,000 tons year-on-year, the data shows that China's primary aluminum production in October was not as much as the increase in production in other parts of the world, and global primary aluminum supply pressure remained
    .

    In terms of market: on November 22, Shanghai trading concentrated 14910-14930 yuan / ton, the monthly premium was 310-350 yuan / ton, Wuxi transaction concentration was 14910-14920 yuan / ton, Hangzhou transaction concentration was 14880-14900 yuan / ton
    .
    Cargo holders have stable shipments, the activity of middlemen has converged compared with yesterday, and downstream enterprises can only choose to purchase
    on demand.
    Hangzhou has a day of gan aluminum for sale, the holder's willingness to ship is positive, so Hangzhou is higher than Shanghai Wuxi pattern changes, downstream goods have not improved
    .
    Aluminum futures are still performing strongly, spot prices are up in time, and futures and cash support and promote
    each other.

    Inventory: as of November 22, LME aluminum stocks reported 2,144,100 tons, a daily decrease of 8,050 tons, close to a one-month high; In the same period, the previous period of aluminum stocks reported 87,735 tons, a slight weekly increase of 615 tons, the fifth weekly increase in the past six weeks, but far below the average inventory value of 233,000 tons for the year, and close to the year's low of 83,775 tons
    .

    Overnight, the main oscillation of Shanghai aluminum rose to 14310 yuan / ton, due to the short-term Shanghai aluminum continued to pull back, ushered in a technical correction, while U.
    S.
    crude oil futures rose strongly, but also improved commodity market sentiment, short-term commodities became the focus of
    capital allocation.
    In terms of operation, it is recommended that the Shanghai aluminum 1701 contract can be backed above 14,000 yuan to bargain more, and the entry reference is around 14,150 yuan, with a target of 14,500 yuan
    .

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