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Shanghai aluminum continues to be strong and market risk sentiment picks up

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

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metal prices today

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Today's Shanghai aluminum main month 2103 contract opened at 15630 yuan / ton, the highest intraday 15820 yuan / ton, the lowest 15540 yuan / ton, settled 15675 yuan / ton, and closed at 15780 yuan / ton, up 325 yuan
.
Today's Shanghai aluminum continues to be strong, the outlook for US stimulus policy is optimistic, market risk sentiment has rebounded, and inventory accumulation is lower than market expectations, and companies are optimistic about post-holiday order demand
.

Shanghai aluminum

Today's London aluminum is strongly volatile, LME three-month aluminum Beijing time at 15:00 at 2028 US dollars / ton, up 9 US dollars, or 0.
45%,
from the previous trading day's settlement price.

In terms of the market, today's spot trading price of Yangtze River is 15560-15600 yuan / ton, up 100 yuan; Guangdong South Reserve reported 15600-15660 yuan / ton, up 140 yuan; Hua reported 15690-15710 yuan / ton, up 90 yuan
.
Holders raised prices, receivers still wanted to reduce prices, trading turned significantly weaker, and transaction activity continued to decline
.

India's Vedanta Ltd.
agreed to spend 3,779 crore rupees ($519 million) to boost alumina capacity in Lanjigarh in Odisha state from 2 million mt to 5 million mt/year
.
The expansion will make the alumina plant one of the
largest single alumina plants in the world.

The Ministry of Industry and Information Technology said that this year will continue to myth supply-side structural reform, strictly control the new production capacity of electrolytic aluminum, and continue to expand the scale of aluminum applications; Recently, the macro atmosphere continues to recover, the US stimulus bill budget won another house, the new stimulus plan is close to passing, and spot aluminum prices are expected to rise
.

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