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On Tuesday, the main monthly 1902 contract of Shanghai aluminum opened at 13,705 yuan, with an intraday high of 13,825 yuan and a low of 13,705 yuan, and closed at 13,790 at the end of the day, up 50 yuan / ton
from the previous trading day.
China's November alumina export decline shows that demand is not good, aluminum prices upside is limited, Shanghai aluminum rose slightly during the day, and the short-term weak shock pattern remained unchanged
.
In terms of the market, the spot trading price of Yangtze River was 13620-13660 yuan / ton, up 30 yuan / ton; Guangdong South Reserve reported 13740-13840 yuan / ton, flat; Hua reported 13720-13740 yuan / ton, up 10 yuan / ton; The average domestic spot trading price is between
13610-13650 yuan / ton.
Intraday aluminum rose slightly, and holders shipped positively, but downstream companies maintained on-demand procurement, and market transactions were average
.
Industry News:
1.
In the tax rate table of export commodities, there are 26 kinds of aluminum-related commodities, of which 23 types of aluminum products will achieve 0 tax rates from 20% and 30% tariffs in 18 years, and the provisional tariffs of "other unwrought aluminum alloys", "aluminum scrap" and "other uncalcined non-aluminum alloys" will be reduced to 15%.
2.
After Rusal was sanctioned by the United States, because it could no longer sell to any country that was purchased in US dollars, the market was worried that large-scale Rusal products were cut off from export sources, including Japanese traders who asked to stop Rusal's shipment of aluminum products to avoid being affected by sanctions
.
Recently, domestic news has weakened, and aluminum ingot shipments in major consumer places have declined, which is not good
for prices.
However, the backbone aluminum companies in the early stage said that they would reduce production capacity by about 800,000 tons again, which still boosted the market to a certain extent, and aluminum prices were temporarily supported
.
However, the expected weakening of consumption in the later period and the increase in the supply of new capacity remain unchanged, so the price pressure will not abate
in the medium term.
Operationally, it is recommended to maintain the idea of dipping in the short term
.
