echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > Shanghai aluminum rose slightly during the day, and inventory pressure limited gains

    Shanghai aluminum rose slightly during the day, and inventory pressure limited gains

    • Last Update: 2022-12-05
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    Today's Shanghai aluminum main month 1706 contract opened at 14420 yuan, intraday high 14500 yuan low 14365 yuan, and closed at 14375, up 45 yuan / ton
    from the previous trading day.
    Alcoa's better-than-expected profit in the first quarter shows that the development prospects of the aluminum market are improving, and Shanghai aluminum rose slightly today, but the inventory pressure made the aluminum price rise weak, and Shanghai aluminum 14,500 has obvious resistance
    .

    Shanghai aluminum

    International market: RUSAL's plan to expand its aluminum smelter capacity by the end of 2018 from 149,000 tons to 298,000 tons may put pressure on aluminum prices, and today Lun aluminum fell slightly, with support below focusing on $
    1,900.
    At 16:08 Beijing time, the LME 3-month aluminum was $1961.
    5, down $0.
    5 from the previous session
    .

    Spot market: today's spot trading price of Yangtze River is 14160-14200 yuan / ton, up 60 yuan / ton; Guangdong South Reserve reported 14210-14310 yuan / ton, up 100 yuan / ton; Hua reported 14270-14290 yuan / ton, up 60 yuan / ton; The average domestic spot trading price is between
    14170-14210 yuan / ton.
    Today's aluminum continues to rise, holders are willing to ship at high prices, downstream enterprises purchase steadily, and market transactions are active
    .

    Industry news: 1.
    Zhang Jilin, vice president and secretary general of the China Nonferrous Metals Processing Industry Association, said that the China Nonferrous Metals Processing Industry Association attached great importance to
    the preparation of the "Binzhou High-end Aluminum Industry Medium and Long-term Development Plan".
    The chairman has repeatedly instructed that it is necessary to concentrate our energies, mobilize the forces that can be mobilized, and make serious plans
    .
    The research activity was carried out for 7 days, and the 7 days were very impressive
    .

    2.
    Chinalco CR Lvliang 1 million tons of light alloy project is a provincial key project
    in Shanxi.
    Duan Bin, deputy manager of the equipment engineering department of Shanxi Chalco China Resources Co.
    , Ltd.
    , said that the first phase of the 500,000-ton alloy aluminum project is a key project in the aluminum industrial park, with an investment of more than 3.
    8 billion.

    This article is an English version of an article which is originally in the Chinese language on echemi.com and is provided for information purposes only. This website makes no representation or warranty of any kind, either expressed or implied, as to the accuracy, completeness ownership or reliability of the article or any translations thereof. If you have any concerns or complaints relating to the article, please send an email, providing a detailed description of the concern or complaint, to service@echemi.com. A staff member will contact you within 5 working days. Once verified, infringing content will be removed immediately.

    Contact Us

    The source of this page with content of products and services is from Internet, which doesn't represent ECHEMI's opinion. If you have any queries, please write to service@echemi.com. It will be replied within 5 days.

    Moreover, if you find any instances of plagiarism from the page, please send email to service@echemi.com with relevant evidence.