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Shanghai aluminum intraday trend is weak, the space below is limited

 Last Update: 2022-12-19
 Source: Internet
 Author: User

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Today's Shanghai aluminum main month 2009 contract opened at 14660 yuan / ton, the highest intraday 14685 yuan / ton, the lowest 14420 yuan / ton, settled 14545 yuan / ton, and closed at 14505 yuan / ton, down 215 yuan
.
Today's Shanghai aluminum trend is weak, the impact of the traditional off-season is limited, the accumulation of low inventories is slow, and the space below the aluminum price is limited
.

Shanghai aluminum

Today's London aluminum shock rebounded, LME three-month aluminum Beijing time at 15:00 at 1768.
5 US dollars / ton, up 8 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 14630-14670 yuan / ton, down 280 yuan; Guangdong South Reserve reported 14570-14630 yuan / ton, down 280 yuan; Hua reported 14740-14760 yuan / ton, down 270 yuan
.
Large households are more enthusiastic about receiving goods, middlemen and downstream are more active, and the overall transaction is
acceptable.

Industry news, Rio Tinto announced bauxite production of 14.
6 million tons in the second quarter of 2020, an increase of 9%
over the second quarter of 2019.
Primary aluminum production was 800,000 tons, the same as the output in the
first quarter.

At present, domestic aluminum inventory into a slight destocking, social inventory accumulation around 680,000 tons, for the recent low range, downstream consumption began to improve, into July with the accumulation of expectations strengthening, consumption began to weaken, the overall marginal weakening of fundamentals consumption focus on infrastructure and real estate completion area on the pull effect
of aluminum.

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