echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > October 24 aluminum market morning review

    October 24 aluminum market morning review

    • Last Update: 2022-12-03
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    On Friday, the night market outside the market aluminum market under pressure continued to fall, of which 3 months Lun aluminum fell 0.
    06% to 1616 US dollars / ton, for six consecutive days, the current Lun aluminum fell back to the level of a month ago, showing that its upper selling pressure is heavier, mainly by the strength of the US dollar and Lun aluminum technical pullback demand pressure, the lower support focus on 1600 US dollars / ton
    .

    Aluminum City

    Industry information: According to data from the International Aluminum Association, global (excluding China) primary aluminum production in September this year was 2.
    096 million tons, down 54,000 tons from the previous month, and China's primary aluminum production in September increased by 38,000 tons
    .

    Market: on October 21, Shanghai spot trading volume of 13360-13380 yuan / ton, the monthly premium of aluminum 420~440 yuan / ton, Wuxi transaction 13360~13370 yuan / ton, Hangzhou transaction 13330 ~ 13350 yuan / ton, the overall market transaction in East China tends to be active, the intraday market release is relatively small, and the downstream weekend before the replenishment demand increases, the market receiving sentiment is stronger, thereby pushing up the spot premium on the basis of yesterday again
    .

    Stocks: LME aluminum stocks reported 2,165,700 tonnes as of October 21, up 76,225 tonnes from last week, which was close to the low of 2068925 tonnes set on Dec.
    18, 2008; In the same period, the previous period of aluminum stocks reported 84,981 tons, a slight increase of 326 tons, a two-week increase, but far lower than the average inventory value of 233,000 tons during the year, close to the year's low of 83,775 tons
    .

    Last Friday's night market Shanghai aluminum oscillation rose to 12760 yuan / ton, as the rise of U.
    S.
    crude oil futures partially offset the pressure of the US dollar, while Shanghai aluminum performance is far more resistant to the decline of Lun aluminum, so the operation needs to be differentiated
    .
    It is recommended that the Shanghai aluminum 1612 contract can be sold high and low between 12850-12550 yuan, and the stop loss is 150 yuan / ton
    each.

    This article is an English version of an article which is originally in the Chinese language on echemi.com and is provided for information purposes only. This website makes no representation or warranty of any kind, either expressed or implied, as to the accuracy, completeness ownership or reliability of the article or any translations thereof. If you have any concerns or complaints relating to the article, please send an email, providing a detailed description of the concern or complaint, to service@echemi.com. A staff member will contact you within 5 working days. Once verified, infringing content will be removed immediately.

    Contact Us

    The source of this page with content of products and services is from Internet, which doesn't represent ECHEMI's opinion. If you have any queries, please write to service@echemi.com. It will be replied within 5 days.

    Moreover, if you find any instances of plagiarism from the page, please send email to service@echemi.com with relevant evidence.