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Peak season consumption expectations still exist There is support below aluminum prices

 Last Update: 2022-12-21
 Source: Internet
 Author: User

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Today's Shanghai aluminum main month 2105 contract opened at 17400 yuan / ton, the highest intraday 17595 yuan / ton, the lowest 17360 yuan / ton, settled 17475 yuan / ton, and closed at 17515 yuan / ton, up 235 yuan
.
Today's Shanghai aluminum trend is strong, aluminum rod inventory continues to degrade, processing enterprise operating rate continues to rise slightly, peak season consumption expectations still exist, aluminum prices below the support
.

Aluminum prices

Today is a UK bank holiday, and the LME is closed
.

On the macro front, Biden will launch the first phase of the $2 trillion economic plan to restore US infrastructure; Restrictions or escalation of the epidemic in France have caused concern
in Europe.
In terms of the market, today's spot trading price of Yangtze River is 17410-17450 yuan / ton, up 170 yuan; Guangdong South Reserve reported 17410-17470 yuan / ton, up 180 yuan; Hua reported 17520-17540 yuan / ton, up 170 yuan
.
The source of circulating goods has tightened, traders have entered the market at the bottom, the enthusiasm of large households to receive goods is average, and the transaction performance is acceptable
.

Recently, the social inventory of aluminum ingots has shown a downward trend, while the national reserve has sold without further details, the current downstream manufacturers have sufficient orders, peak season consumption expectations are still optimistic, and spot aluminum prices are expected to rise
.

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