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    Home > Chemicals Industry > New Chemical Materials > Shanghai aluminum trend is weak and fell into a high correction trend

    Shanghai aluminum trend is weak and fell into a high correction trend

    • Last Update: 2022-12-20
    • Source: Internet
    • Author: User
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    Today's Shanghai aluminum main month 2101 contract opened at 16775 yuan / ton, the highest intraday 16780 yuan / ton, the lowest 16130 yuan / ton, settled 16485 yuan / ton, and closed at 16170 yuan / ton, down 650 yuan
    .
    Today's Shanghai aluminum trend is weak, high profits stimulate the release of production capacity, cost single alumina prices remain low, but inventories are still decreasing
    .

    Shanghai aluminum

    Today, LME three-month aluminum was reported at 2033 US dollars / ton at 15:10 Beijing time, down 28 US dollars, or 1.
    36%,
    from the settlement price of the previous trading day.

    In terms of the market, today's spot trading price of Yangtze River is 16830-16870 yuan / ton, down 220 yuan; Guangdong South Reserve reported 16890-16950 yuan / ton, down 250 yuan; Hua reported 16940-16960 yuan / ton, down 230 yuan
    .
    The circulation supply is sufficient, the enthusiasm of large households to receive goods is general, and downstream procurement has rebounded
    slightly.

    Industry news, reported that Chifeng Qihui Aluminum Development Co.
    , Ltd.
    's annual capacity of 6.
    5 million tons of alumina project is scheduled to start at the end of the first quarter of 2021, the first production line was originally expected to be put into operation in the first quarter of 2022, and the second production line was originally expected to be put into operation
    in the second half of 2022.

    In terms of news, the number of ADP employment in the United States increased by 307,000 in November, compared with an estimated increase of 430,000 and an increase of 365,000
    in the previous month.
    Eurozone unemployment fell to 8.
    4% in October; Expectations were 8.
    4%.

    Employment in the United States and Europe is still not good, Biden said that the tariff policy will not be canceled in the short term, and the sudden passage of a bill in the United States overnight will restrict the listing of Chinese companies in the United States, market panic has risen, and non-ferrous metals have fallen
    across the board.

    Aluminum prices fell sharply during the day, and as of the close of 3 p.
    m.
    , the main 2101 contract of Shanghai aluminum closed down at 16170, down 650, or 3.
    86%; After nearly a month of continuous rise, today's aluminum price fell into a high pullback trend, at present, the price has been at a high level under the market fear of heights is still more serious, short-term Shanghai aluminum still has a certain space to float, the main force can temporarily pay attention to the range of 1.
    58-16,200 oscillations, the operation is recommended to wait and see, is expected to spot aluminum continue to fall
    .

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