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Shanghai aluminum noon comment: yesterday's aluminum price rose sharply, the highest touched 18625 yuan / ton, the night trading fell slightly, the overall maintenance of about 18600 volatility, as of the 9th 1 o'clock close, Shanghai aluminum main contract reported 18575 yuan / ton, up 160 yuan / ton, up 0.
87%.
LME aluminum prices were quoted at $2,277/ton, up $36/ton, or 1.
61%,
from the previous month.
In terms of news, Fed Mester said that the risk of recession in the United States has increased, the economy has slowed sharply, and macro sentiment is bearish
.
Aluminium Dunkerque, France's largest smelter, announced a 22 percent cut in production, as soaring energy costs at European trade associations affected the industry's survival, and Dunkirk aluminium CEO said it would shut down some capacity
next week.
In terms of inventory, LME inventory accumulation, overseas consumer demand is weakening, domestic aluminum inventory low record reduction, although the power supply in the power rationing area has recovered, but the electrolyzer restart cycle is longer, and the Sichuan earthquake is sudden, Sichuan production capacity is difficult to fully resume work in the short term, while the water in Yunnan is dry affecting the supply of hydropower, Yunnan power rationing is basically finalized, September supply or further tightening, downstream demand performance is general, it is expected that short-term aluminum prices are strong shock operation
.
