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Today's Shanghai aluminum main month 2107 contract opened at 18460 yuan / ton, the highest intraday 18455 yuan / ton, the lowest 18650 yuan / ton, settled 18460 yuan / ton, and closed at 18435 yuan / ton, up 135 yuan
.
Today's Shanghai aluminum trend is strong, the tightening of US monetary policy expectations have weakened, domestic social inventories are still declining, demand is acceptable, power restrictions and production restrictions continue to affect supply, and there is support
at the bottom of aluminum prices.
In terms of external trading, today's Lun aluminum opened high and low, and the latest quotation at 15:01 Beijing time was 2438 US dollars / ton, down 17 US dollars, or 0.
69%,
from the settlement price of the previous trading day.
In terms of the market, today's spot trading price of Yangtze River is 18500-18540 yuan / ton, up 270 yuan; Guangdong South Reserve reported 18780-18840 yuan / ton, up 320 yuan; Hua reported 18620-18640 yuan / ton, up 270 yuan
.
The circulating supply is tight, the holders ship at a high price, the receiving party actively enters the market, the enthusiasm of large households to receive goods is general, and the transaction activity is acceptable
.
In terms of news, the impact of recent domestic power cuts and production restrictions continues to expand, the design capacity has exceeded 600,000 tons, the current inventory is still in a state of decomposition, the last period of aluminum inventory last week decreased by 15,873 tons to 313699 tons, the third consecutive week of decline, is expected to rise
in spot aluminum prices.
In terms of fundamentals, last week's domestic social stocks decreased by 58,000 tons from the previous week to around 962,000 tons, and short-term aluminum ingot stocks are expected to continue to
decline.
In the early stage, the central government made intensive statements on the upward trend of commodity prices, triggering a correction in aluminum prices, and the market was worried
about short-term storage.
From the perspective of supply, the actual supply increment of aluminum ingots is limited, mainly affected by the recent tight power supply and carbon neutrality in Yunnan, and the production limit and peak shift production of aluminum plants are expected to exceed one month
.
In the medium and long term, the promotion of new energy is conducive to the downstream consumption of aluminum, superimposed on carbon neutrality, that is, domestic policies to suppress production capacity, the trend of aluminum prices is expected to still rise
.
