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Today's Shanghai aluminum main month 2108 contract, opening 19100 yuan / ton, the highest intraday 19150 yuan / ton, the lowest 18955 yuan / ton, settlement 19370 yuan / ton, the end of the close to 19075 yuan / ton, down 295 yuan
.
Today, Shanghai aluminum opened low and went low, the overseas epidemic once again rebounded to make U.
S.
stocks and commodities fall for a while, the National Development and Reform Commission plans to release the second batch of reserve aluminum, and the speed of electrolytic aluminum destocking slows down
.
Today's London aluminum shock rebounded, LME three-month Beijing time at 15:03 at 2436 US dollars / ton, up 16 US dollars, or 0.
66%
from the previous trading day's settlement price.
In terms of the market, today's spot trading price of Yangtze River is 19010-19050 yuan / ton, down 290 yuan; Guangdong South Reserve reported 19080-19140 yuan / ton, down 290 yuan; Hua reported 19070-19110 yuan / ton, down 290 yuan
.
Holders actively ship, middlemen take advantage of the low, large households receive goods with general enthusiasm, and the overall transaction is
acceptable.
At present, the overall contradiction between strong supply and weak demand is still in the fundamentals, and the demand side is facing a seasonal decline in the operating rate of most downstream enterprises, and there is a certain amount of digestive pressure
in the market.
On the supply side, Qinghai Haiyuan, Shanxi Zhaofeng, Shaanxi Hengkang and other electrolytic aluminum plants continue to resume production, and the impact of production restrictions in Yunnan in the early stage gradually fades with the arrival of the rainy season, but the recent news of power cuts in Yunnan, Henan and Inner Mongolia may delay the original resumption of production rhythm
.
The current electrolytic aluminum social inventory still continues to destock, this week's inventory decreased by 26,000 tons, the overall water level is above the level of 832,000 tons, downstream aluminum rod inventory gradually has a slight accumulation situation, further indicating that the off-season is approaching
.
The high aluminum price in the early part of this year inhibited downstream consumption, and the peak season showed a certain degree of backward phenomenon, and the inflection point of this year's accumulation also has a trend
of postponing backwards.
At the end of the current aluminum price peak season and the double help of the national RRR reduction, there is still a small upside under the support of the tail of the peak season, and the price may appear weak after the official off-season, and at the same time, under the support of this year's continuous low water level social inventory, the price is difficult to reduce significantly, pay attention to the specific time
when the accumulation inflection point may occur in late July.
