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Shanghai aluminum afternoon review on December 18

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

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Overnight, Shanghai aluminum oscillated higher
.
The current aluminum stocks and aluminum prices cooperate and affect each other, and yesterday once again formed a wave of resonant upward trend, focusing on sustainability
.

Shanghai aluminum

In terms of the market, on December 17, the domestic spot aluminum price rose, and the spot AOO aluminum ingot price of Yangtze River Nonferrous Metal Network was reported at 16730 yuan / ton, up 80 yuan; The price of Chinalco East China AOO aluminum ingots was 16,730 yuan / ton, up 90 yuan
.
According to institutional data, the domestic social inventory of aluminum ingots decreased compared with last week, and the continuous destocking showed that the current consumption is not weak; Recently, many places in Zhejiang have cut electricity, but the impact on processing enterprises is relatively limited, and spot aluminum prices are expected to rise
today.

The U.
S
.
stimulus package is expected to be reached this week, the dollar fell below 90 for the first time in two years, the non-ferrous sector rose collectively, and Shanghai aluminum continued to be volatile.
The spot premium of aluminum ingots is as high as 270 yuan, which boosts Shanghai aluminum
.
In December, processing enterprises in Henan limited production on a large scale, but consumption in other regions was still good, and the domestic social inventory of aluminum ingots fell by nearly 10,000 tons this week to refresh a new low
in the year.
The spot market has a strong willingness to hold prices, and the monthly difference structure is maintained, and it is recommended to treat it with temporary shocks
.

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