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Today's Shanghai aluminum main month 2110 contract, opening 23135 yuan / ton, the highest intraday 23565 yuan / ton, the lowest 23135 yuan / ton, settlement 22890 yuan / ton, the end of the close to 23500 yuan / ton, up 610 yuan
.
Today's Shanghai aluminum trend is strong, this week aluminum ingot social library has accumulated, but local power cuts continue to ferment, and electrolyzers in some areas have not fully recovered, pushing aluminum prices up
.
Today, Lun aluminum fluctuated in a narrow range, and the LME reported at $2947 / ton at 15:01 Beijing time for three months, up $10, or 0.
34%,
from the previous session's settlement price.
In terms of the market, today's spot trading price of Yangtze River is 23290-23330 yuan / ton, up 500 yuan; Guangdong South Reserve reported 23320-23380 yuan / ton, up 490 yuan; Hua reported 23350-23390 yuan / ton, up 500 yuan
.
Holders actively ship and realize cash, receivers are bullish and wait-and-see, procurement enthusiasm is general, trading atmosphere is not good, and transactions are average
.
On the macro front, the Fed's September interest rate decision said it would keep interest rates unchanged and start tapering
as early as November this year.
At the same time, Fed Chairman Jerome Powell has a hawkish stance on the pace of debt reduction, believing that it is appropriate
to end bond purchases in the middle of next year.
Fundamentally, the tightening trend on the supply side remains unchanged
.
Many places in the country due to energy consumption dual control or lack of electricity and other reasons to limit production news, Monday market circulation documents Yunnan area electrolytic aluminum will increase the production limit range of 10%, in addition, Ningxia also has electrolytic aluminum power limit production reduction, the rise in aluminum prices to form a boost
.
On the demand side, Guangdong and Jiangsu have introduced power rationing policies, and small and medium-sized enterprises have been more affected, and the overall impact is not as good as that of the upstream
.
However, the inventory showed a slight accumulation last week, SMM domestic electrolytic aluminum social inventory of 766,000 tons, weekly accumulation of 15,000 tons, or short-term to suppress the rise of aluminum prices, it is recommended to pay attention to the latest social library changes
this week.
Strategically, it is expected that aluminum prices will fluctuate strongly in the short term, and the previous long orders will continue to be held, and the long-term is still optimistic
.
