-
Categories
-
Pharmaceutical Intermediates
-
Active Pharmaceutical Ingredients
-
Food Additives
- Industrial Coatings
- Agrochemicals
- Dyes and Pigments
- Surfactant
- Flavors and Fragrances
- Chemical Reagents
- Catalyst and Auxiliary
- Natural Products
- Inorganic Chemistry
-
Organic Chemistry
-
Biochemical Engineering
- Analytical Chemistry
-
Cosmetic Ingredient
- Water Treatment Chemical
-
Pharmaceutical Intermediates
Promotion
ECHEMI Mall
Wholesale
Weekly Price
Exhibition
News
-
Trade Service
The recent weakness of the stock market and the strength of the US dollar index have made the nonferrous metal maintain a weak trend, while Shanghai aluminum has changed the stronger trend in the previous period and performed unusually weakly
.
During the November long holiday, the volatility of the peripheral market will increase, and investors' control of positions is bound to rank first; However, the decline in mid-to-late September has already reflected on fundamental risks, so the peripheral amplitude is large, but the actual rise and fall may be small, and the impact on Shanghai aluminum may be weak
.
On the macro front, the US dollar index rose continuously, and commodities came under collective pressure last week; The second epidemic in Europe has caused market concern
.
On the supply side: aluminum enterprises have steadily released production capacity, Yunnan Hongtai has been powered on since early September, and the Weiqiao Yunnan project has also begun to be put into operation recently, production capacity has accelerated, the operating rate of electrolytic aluminum continues to rise, and there is a loose trend
on the supply side.
Cost side: The cost of alumina rose to 12,795 yuan yesterday, and the profit margin narrowed
.
In terms of liter discount: the domestic Yangtze River nonferrous spot premium continued to rise, reaching 340 yuan / ton, and the discount range of Lun aluminum continued to narrow to 36 US dollars, and the discount continued to decrease
.
In terms of stocks, LME stocks fell by 4,150 tons to 1,473,000 tons, stocks in the previous period fell by 18,974 tons to 230,000 tons, and the social bank fell by 13,000 tons to 716,000 tons according to the data on September 21, and the social electrolytic aluminum inventory went to storage
for three consecutive periods.
Overall, in terms of raw materials, alumina prices bottomed out, the profit margin of the electrolytic aluminum industry has narrowed, and the demand side has entered the September consumption season, but the demand has not met expectations, and the overall performance is relatively weak
.
The overseas epidemic has been repeated, and there is uncertainty
about the economic impact of the epidemic.
From the perspective of the future market, the supply side has accelerated with the resumption of production by aluminum enterprises, and the production capacity of the supply side has been further released, while the downstream start has remained stable, and the demand side has not been guided by the consumption season, and the consumption performance has not met expectations
.
It is expected that the short-term aluminum price trend will be mainly range-bound
.
Operationally, it is recommended to speculate on the partial exit of long orders, hold short orders cautiously, set protective stop losses, and wait and see for new orders, and avoid risks before the holiday
.
