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    Home > Chemicals Industry > New Chemical Materials > Pressure on the supply side There is limited space above the price of aluminum

    Pressure on the supply side There is limited space above the price of aluminum

    • Last Update: 2022-12-20
    • Source: Internet
    • Author: User
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    Today's Shanghai aluminum main month 2010 contract opened at 13945 yuan / ton, the highest intraday 14115 yuan / ton, the lowest 13830 yuan / ton, settled 13975 yuan / ton, and closed at 14100 yuan / ton, up 320 yuan
    .
    Today's Shanghai aluminum trend is strong, the enthusiasm for new production capacity has increased, primary aluminum imports have increased, and the supply side has limited space above the pressure on aluminum prices
    .

    Aluminum prices

    Today's London aluminum is weak and volatile, LME three-month aluminum Beijing time at 15:24 at 1760 US dollars / ton, down 2 US dollars, or 0.
    11%,
    from the previous trading day's settlement price.

    In terms of the market, today's spot trading price of Yangtze River is 14520-14560 yuan / ton, up 260 yuan; Guangdong South Reserve reported 14570-14630 yuan / ton, up 230 yuan; Hua reported 14640-14660 yuan / ton, up 270 yuan
    .
    Cargo holders mainly dump goods, downstream fear of heights to receive goods is not good, large households are willing to receive goods
    .

    New Zealand Prime Minister Jacinda Ardern said on Monday that if he returns to power in the Oct.
    17 elections, talks will be held
    on Rio Tinto's extension of aluminium smelter operations in the country for 3-5 years.
    Rio Tinto's plan to close its Tiwai Point smelter in New Zealand has become a hot topic ahead of the election, as the closure will put thousands out of work and hurt
    the profits of large power producers.

    Looking forward to the future market, the logic of marginal weakening of fundamentals is more certain, the pressure on aluminum prices is prominent, and the absolute price tends to weaken, but pay attention to the support of spot premiums on the price of the month, and the accelerated decline of warehouse receipts after the plunge, short-term prices still have the momentum of high support, unilateral should be wait-and-see
    .

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