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Shanghai aluminum low open low go supply pressure is not obvious for the time being

 Last Update: 2022-12-22
 Source: Internet
 Author: User

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china 1 sevierville

market data

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Today's Shanghai aluminum main month 2107 contract opened at 19655 yuan / ton, the highest intraday 19755 yuan / ton, the lowest 19210 yuan / ton, settled 19500 yuan / ton, and closed at 19280 yuan / ton, down 465 yuan
.
Today's Shanghai aluminum opened low and went low, the import window opened again, aluminum imports increased sharply, electrolytic aluminum supply is rising, but the supply pressure is not obvious for the time being, and social stocks are still degrading
.

Shanghai aluminum

Today, LME three-month aluminum fell back to 2448.
5 US dollars / ton at 15:20 Beijing time, down 17.
5 US dollars, or 0.
71%,
from the settlement price of the previous trading day.

In terms of the market, today's spot trading price of Yangtze River is 19510-19550 yuan / ton, down 320 yuan; Guangdong South Reserve reported 19580-19640 yuan / ton, down 290 yuan; Hua reported 19640-19660 yuan / ton, down 310 yuan
.
Holders sell at a high price, middlemen take advantage of the low, and downstream purchases on demand, and the overall transaction is average
.

The data shows that the import arbitrage window has opened again, China's aluminum imports in April increased by 36.
1% month-on-month, and the imports of primary aluminum, unwrought aluminum and aluminum products increased by 165.
2% year-on-year; According to institutional forecasts, the resumption of new production in the second quarter is relatively concentrated, with a total new production capacity of about 660,000 tons, and spot aluminum prices are expected to fall
.

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