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Shanghai aluminum continues to be strong after the holiday or rebounded beyond expectations

 Last Update: 2022-12-21
 Source: Internet
 Author: User

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Today's Shanghai aluminum main month 2104 contract opened at 16680 yuan / ton, the highest intraday 16680 yuan / ton, the lowest 16385 yuan / ton, settled 16525 yuan / ton, and closed at 16490 yuan / ton, up 145 yuan
.
Today's Shanghai aluminum continues to be strong, the increase in social inventory is limited, and the macro atmosphere is generally warm, but demand has not yet started, which may inhibit the upward
trend of aluminum prices.

Shanghai aluminum

Today, LME three-month aluminum was reported at $2144.
5 / ton at 15:00 Beijing time, up $3.
5, or 0.
16%,
from the settlement price of the previous trading day.

In terms of the market, today's spot trading price of Yangtze River is 16400-16440 yuan / ton, up 210 yuan; Guangdong South Reserve reported 16380-16440 yuan / ton, up 180 yuan; Hua reported 16520-16540 yuan / ton, up 220 yuan
.
The market has more to receive and less to receive, the enthusiasm of large households to receive goods is weak, and the transaction situation is not satisfactory
.

On the demand side, when the Spring Festival holiday has not completely ended, it is difficult for terminal consumption to recover
rapidly.
However, affected by policies such as the local New Year celebration, the pace of post-holiday consumption recovery may be faster than in previous years
.
At the same time, the relatively strong export orders of some terminal products also made the accumulation of stocks during the Spring Festival lower than in previous years
.
In the macro atmosphere of early heating up of macro inflation expectations, aluminum prices may rebound beyond expectations after the holiday, and it is appropriate
to wait and see for the time being.

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