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    Home > Chemicals Industry > New Chemical Materials > Shanghai aluminum continues to be strong and the fundamentals are generally good

    Shanghai aluminum continues to be strong and the fundamentals are generally good

    • Last Update: 2022-12-21
    • Source: Internet
    • Author: User
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    Today's Shanghai aluminum main month 2106 contract opened at 18835 yuan / ton, the highest intraday 19015 yuan / ton, the lowest 18760 yuan / ton, settled 18885 yuan / ton, and closed at 18990 yuan / ton, up 250 yuan
    .
    Today, Shanghai aluminum continues to be strong, the traditional peak season social inventory shows a trend of destocking, electrolytic aluminum production is limited under the background of environmental protection, and the fundamentals are generally good
    .

    Shanghai aluminum

    Today, LME three-month aluminum opened higher and higher, LME three-month aluminum Beijing time at 15:01 at 2427 US dollars / ton, up 13.
    5 US dollars, or 0.
    56%,
    from the previous trading day's settlement price.

    In terms of the market, today's spot trading price of Yangtze River is 18820-18860 yuan / ton, up 120 yuan; Guangdong South Reserve reported 18810-18870 yuan / ton, up 100 yuan; Hua reported 18920-18940 yuan / ton, up 100 yuan
    .
    The demand for the holiday is weak, the receiving party is afraid of heights, and the overall transaction is not happy
    .

    In terms of fundamentals, SMM inventory on the 29th reported 1.
    115 million tons, down 25,000 tons from last Thursday, aluminum prices soared, downstream wait-and-see sentiment strengthened, and demand for receiving goods weakened; during the same period, steel union statistics aluminum rod inventory of 148,000 tons, down 27,500 tons from last Thursday; aluminum prices rose too fast, downstream receiving sentiment was weak, and wait-and-see sentiment was stronger
    .

    Overseas economic recovery accelerated, the US dollar was weak, and pre-holiday stocking demand was expected to support aluminum prices, but the recent spot transaction was weak, and the demand for stocking was delayed.

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