echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > Shanghai aluminum afternoon review on January 9

    Shanghai aluminum afternoon review on January 9

    • Last Update: 2022-12-17
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    Yesterday, the main force of Shanghai aluminum changed to the 2003 contract
    .
    Overnight, the Shanghai aluminum main 2003 contract opened at 14060 yuan / ton, after the opening of the short position increase pressure, the pressure on the plate to test down 13995 yuan / ton, then long and short positions in parallel, Shanghai aluminum plate maintained sideways near the main moving average group, and finally closed at 14020 yuan / ton, mainly
    long position reduction.
    Spot performance has weakened recently, and it is expected that the main operation of Shanghai aluminum will be 13900-14100 yuan / ton within the day, and the spot pair will be 70-90 yuan / ton
    in the same month.

    Shanghai aluminum

    The price of Chinalco East China AOO aluminum ingots was 14480 yuan / ton, up 10 yuan
    .
    At the end of the year, enterprises have stopped work one after another, downstream demand has weakened, electrolytic aluminum inventories at a low level have rebounded slightly, and short-term supply is difficult to increase significantly, and today's spot aluminum prices are expected to rise and fall limited
    .

    Domestically, SMM reported a domestic output of 3.
    036 million tons in December, an increase of 1.
    47%
    year-on-year.
    It is expected to produce 3.
    06 million tons in January and an annualized output of 36.
    4 million tons, a year-on-year growth rate of 3.
    07%.

    The spot price premium remained at 100 yuan/ton, and the 01-03 spread widened to 370 yuan/ton
    .
    At present, the high smelting profit of 1300 yuan / ton is difficult to maintain for a long time, but the social inventory has not accumulated significantly, and it is expected that the social inventory will still increase slightly on Thursday, and it is difficult for the aluminum price to fall smoothly before the Spring Festival, but the probability of Q1 aluminum price shock downward is large
    .

    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.