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Shanghai aluminum afternoon comment on December 14

 Last Update: 2022-12-20
 Source: Internet
 Author: User

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Last Friday night, Shanghai aluminum fluctuated in a narrow range, focusing on the 20-day line 10,000 support
.
Processing enterprises in Henan have limited production on a large scale, and the amount of local ingots will increase, but the impact of large factories is limited, and inventory has not accumulated, indicating that consumption in other regions is still strong
.
Spot premiums for aluminum ingots near delivery have fallen, but the monthly difference structure is maintained, it is recommended to treat them with temporary shocks, and the far month pullback to buy and earn monthly profits can still participate
.

Shanghai aluminum

In terms of the market, the price of Chinalco East China AOO aluminum ingots was 16720 yuan / ton, up 110 yuan
.
Aluminum inventories on the Shanghai Futures Exchange recovered slightly last week, increasing by 288 tons to 214,620 tons; Entering the heating season, many alumina companies have stopped production and limited production, and aluminum processing companies have also been affected by production restrictions, and spot aluminum prices are expected to fall
.

Overall, the global manufacturing industry recovery is strong, aluminum fundamentals have improved, Biden won the election after the multilateral cooperation of countries smoother, the global economic recovery to promote the role, recently Shanghai aluminum main force in the long profit exit under the influence of the pullback, has been down to the 10-day moving average, short-term social inventory support still exists, Shanghai aluminum AL2101 still has upside
.

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