echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > Shanghai aluminum afternoon review on January 7

    Shanghai aluminum afternoon review on January 7

    • Last Update: 2022-12-24
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    Overnight, Shanghai aluminum 2202 closed at 20860, up 210, LME aluminum closed at 2930, up 18; On the macro front, the minutes of the Fed's December meeting show that interest rates can be raised earlier, the rate hike can be faster, and the speed of balance sheet reduction can exceed the previous round of balance sheet reduction cycle
    .

    Shanghai aluminum

    In terms of fundamentals, SMM stocks on the 6th reported 776,000 tons, down 23,000 tons from last Thursday; during the same period, the steel union statistics aluminum rod inventory was 130,500 tons, an increase of 34,000 tons from last Thursday; November unwrought aluminum and aluminum exports were 509,300 tons, an increase of 29,700 tons, imports were 397,900 tons, an increase of about 101,000 tons, of which primary aluminum imports were about 230,000 tons, an increase of about 90,000 tons
    .

    The resumption of electrolytic aluminum production in Yunnan has basically stopped due to electronic supply, and the pressure of limiting electrolytic aluminum production in the Northern Winter Olympics is not large; European natural gas prices have soared, and many European aluminum plants such as Hydro and Alcoa have begun to reduce production, and more capacity may join the production cut
    .
    The 14th Five-Year Plan of Yunnan Province requires accelerating the promotion of electrolytic aluminum projects under construction to be put into operation as soon as possible; Guangxi encouraged electrolytic aluminum enterprises to accelerate production and resume production
    in the first quarter.
    East China spot performance is still strong, inventory dematerialization is relatively fast, South China due to the increase in profile shutdown, demand into the off-season
    .

    This article is an English version of an article which is originally in the Chinese language on echemi.com and is provided for information purposes only. This website makes no representation or warranty of any kind, either expressed or implied, as to the accuracy, completeness ownership or reliability of the article or any translations thereof. If you have any concerns or complaints relating to the article, please send an email, providing a detailed description of the concern or complaint, to service@echemi.com. A staff member will contact you within 5 working days. Once verified, infringing content will be removed immediately.

    Contact Us

    The source of this page with content of products and services is from Internet, which doesn't represent ECHEMI's opinion. If you have any queries, please write to service@echemi.com. It will be replied within 5 days.

    Moreover, if you find any instances of plagiarism from the page, please send email to service@echemi.com with relevant evidence.