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Today's Shanghai aluminum main month 2104 contract opened at 17245 yuan / ton, the highest intraday 17770 yuan / ton, the lowest 17145 yuan / ton, settled 17490 yuan / ton, and closed at 17605 yuan / ton, up 300 yuan
.
Today's Shanghai aluminum trend is strong, electrolytic aluminum production in the first two months increased by 8.
4% year-on-year, as smelters took advantage of soaring prices to increase production capacity, and electrolytic aluminum enterprises in Inner Mongolia were suppressed
due to energy consumption problems.
Today's Lun aluminum fluctuated at a high level, and the LME three-month aluminum was reported at 2194 US dollars / ton at 15:00 Beijing time, up 22.
5 US dollars, or 1.
04%,
from the settlement price of the previous trading day.
In terms of the market, today's spot trading price of Yangtze River is 17590-17630 yuan / ton, up 240 yuan; Guangdong South Reserve reported 17590-17650 yuan / ton, up 250 yuan; Hua reported 17710-17730 yuan / ton, up 250 yuan
.
It is difficult for the holders to ship, the low-priced source of goods is still transacted, the enthusiasm of large households to receive goods is general, and the overall transaction is poor
.
As of March 12, aluminum inventories on the Shanghai Futures Exchange were 263916 tons, down 86,778 tons from the previous week, and the current inventory subtotal level is at the lowest level in the same period of five years
.
Among them, futures inventories were 157,080 tons, an increase of 39,545 tons
from the previous week.
Inventories in the same period of 2020 were 271438 tons, and the current level of futures inventories is at the lowest level in the same period of 5 years
.
In terms of social stocks, as of March 11, according to statistics, the social stocks of electrolytic aluminum in the five places were 1.
228 million tons, an increase of 55,000 tons
from the previous week.
Inventories were 1.
593 million mt
in the same period last year.
Current inventories are at the 2nd lowest level in the same period in 5 years
.
On the macro front, with the successive investment of vaccines, the overseas epidemic has begun to slow down, and the market's expectations for global economic recovery have strengthened
.
On the other hand, from a fundamental point of view, terminal demand has picked up, and automobile production and sales, and aluminum profile exports have increased significantly
year-on-year.
On the supply side, although the profits of electrolytic aluminum enterprises are still considerable, but affected by the "carbon peak" and "carbon neutral" policies, the medium and long-term electrolytic aluminum production capacity will be affected, and the upward momentum of aluminum prices will gradually increase
.
