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Shanghai aluminum shock weakened downstream consumption weakened

 Last Update: 2022-12-24
 Source: Internet
 Author: User

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Today's Shanghai aluminum main month 2202 contract, opening 21515 yuan / ton, the highest intraday 21540 yuan / ton, the lowest 20980 yuan / ton, settlement 21230 yuan / ton, the end closed at 21160 yuan / ton, down 425 yuan, down 1.
97%; The trading volume of the main 2202 contract of Shanghai aluminum decreased by 197577 lots 181695 lots throughout the day, and the position volume of 188506 increased by 11424 lots
.
Today's Shanghai aluminum shock lower operation, European production reduction interference concerns still exist, domestic smelters resumed production progress is not as expected, the escalation of the epidemic affects logistics and transportation, aluminum ingot social inventory continues to go to storage, but the year-end off-season consumption weakened, downstream enterprises gradually reduced holiday orders, resulting in weaker aluminum price
shocks.

Shanghai aluminum

Today's Lun aluminum weak shock, LME three-month Beijing time at 15:01 at 2956.
5 US dollars / ton, down 1.
5 US dollars, or 0.
05%,
from the previous trading day's settlement price.

In terms of the market, today's spot trading price of Yangtze River is 21140-21180 yuan / ton, down 420 yuan; Guangdong South Reserve reported 21140-21200 yuan / ton, down 410 yuan; Hua reported 21200-21240 yuan / ton, down 400 yuan
.
Bearish sentiment of cargo holders is more positive in shipments, but downstream receiving is cautious, wait-and-see sentiment is strong, on-demand replenishment is mainly low-price transactions, and the downturn in the spot market continues
.

The tightening of global aluminum supply expectations and the continued domestic destocking support prices, but the downstream fear of heights is gradually showing, receiving goods cautiously, the year-end off-season consumption weakened, delivery close to Shanghai aluminum trend is weak, now aluminum or slightly reduced
.

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