echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > October 25 Shanghai aluminum brief comment

    October 25 Shanghai aluminum brief comment

    • Last Update: 2022-12-23
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    Last week, due to the sharp fall in coal prices, energy-intensive commodities followed suit, the main contract of Shanghai aluminum fell 2900 yuan / ton, and AL2112 was quoted at 21460 yuan / ton
    .
    Today's aluminum price continued to be weak and volatile, as of the close of 3 pm, the main 2112 contract of Shanghai aluminum closed down at 21665, down 345, or 1.
    57%.

    Shanghai aluminum

    Fundamentally, the double-limit policy is still continuing to advance, and the preferential electricity price
    of the electrolytic aluminum industry has recently been canceled in Sichuan.
    The supply side affected by the limited power is still tightening, and the news of power restrictions and production restrictions is transmitted in Guizhou, and it is expected that the power restrictions and tank shutdowns will affect the production capacity of about 190,000 tons, and Xinjiang and other regions may face a new round of production
    cuts.

    In the short term, due to the fluctuation of macro news and the weakening of cost support, aluminum prices have returned to around 21,000, and the continuous accumulation of current inventories also reflects the weakness of consumption, and the overall trend of Shanghai aluminum may be difficult to change weak; However, the dual control requirements of domestic energy consumption are still there, the production limit has not changed or even increased, short-term aluminum prices continue to fall is unlikely to fall, the decline may gradually slow down, there is a possibility of rebound in the week, pay attention to the evening disk trend, the shock range refers to the 21200-22000 range, and it is recommended to replenish appropriately at a low level in operation
    .

    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.