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    Home > Chemicals Industry > New Chemical Materials > November 5 Shanghai aluminum afternoon commentary

    November 5 Shanghai aluminum afternoon commentary

    • Last Update: 2022-12-17
    • Source: Internet
    • Author: User
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    Overnight, the main force of Shanghai aluminum opened at 13935 yuan / ton, continued to rise after a slight dip during the day, but the rise converged slightly, the opening bulls continued to increase their positions, the bears were cautious in the context of the strong external market, and the intraday profit exited, and the last close of the market was 13965 yuan / ton
    .
    Overnight Shanghai aluminum holdings increased by 656 hands to about 34,000 lots, running above all moving averages, given that the current spot premium is at a high of about 70 yuan, the inventory continues to decline by 12,000 tons, it is difficult to fall sharply in recent months, it is expected to run between 13850~14000 yuan today, and the spot premium is between
    50~90 yuan.

    Shanghai aluminum

    The AOO aluminum ingot price in East China was reported at 14,090 yuan / ton, up 70 yuan
    .
    Novelis European director said that measures to reduce plastic packaging to protect the environment are beginning to increase demand for aluminum packaging, and the popularity of electric vehicles will also increase aluminum demand, providing support for aluminum prices, which are expected to rise slightly today
    .

    Entering November, although there is still uncertainty in macro policies, China's policy strengthening stability maintenance hedging expectations have strengthened, providing a neutral environment for copper and aluminum, and the market is looking forward to the meeting between Chinese and US leaders in November.

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