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    Home > Chemicals Industry > New Chemical Materials > Shanghai aluminum afternoon comment on October 16

    Shanghai aluminum afternoon comment on October 16

    • Last Update: 2022-12-17
    • Source: Internet
    • Author: User
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    Overnight, the Shanghai aluminum main 1912 contract opened low around 13760 yuan / ton, at the beginning of the session met with a short increase of more than 2500 lots, aluminum prices hovered at 13760 yuan / ton line, and then began to break free from the shackles of the daily average began to try to climb higher, and stepped on a step to explore the intraday high of 13805 yuan / ton, sinking at the end of the day, and finally closed at 13790 yuan / ton, up 40 yuan / ton, an increase of 0.
    29%, the trading volume decreased 67258 hands to 26322 hands, Holdings increased by 3,158 lots to 227,000 lots, closing at the small white candle, the center of gravity has risen from the day, but it is still below
    all moving averages.

    Shanghai aluminum

    Domestic spot holders ship less, downstream enterprises maintain on-demand procurement, and market transactions are acceptable
    .
    Short-term alumina prices are affected by environmental restrictions, transportation obstructions and ore supply contraction or continue to rise slightly, but it is difficult to break through 2800 yuan / ton
    .
    Since the second quarter of 2017, overseas alumina prices fell below $300/ton for the first time, and the alumina import window opened again, but it is expected to have little impact
    .
    With the launch of new electrolytic aluminum production capacity in Guangxi and Inner Mongolia in the fourth quarter, domestic alumina supply may return to a tight pattern
    .
    Electrolytic aluminum SMM data: In September (30 days), China's electrolytic aluminum output was 2.
    892 million tons
    .
    SMM data: In September (30 days), China's alumina production was 5.
    648 million tons
    .

    Now is in the October traditional consumption season, although this year's peak season state is not as expected, but not very bad, and the recent aluminum plant production pace is slow, part of the production capacity will be moved to next year, and from the cost of electrolytic aluminum plant consideration, the short term should not be too bearish, it is expected that today's operating range is between 13720-13820 yuan / ton, the premium is within 20-60 yuan / ton
    .

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