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    Home > Chemicals Industry > New Chemical Materials > Shanghai aluminum trend is weak, the fundamentals are well supported

    Shanghai aluminum trend is weak, the fundamentals are well supported

    • Last Update: 2022-12-22
    • Source: Internet
    • Author: User
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    Today's Shanghai aluminum main month 2107 contract opened at 18330 yuan / ton, the highest intraday 18425 yuan / ton, the lowest 18205 yuan / ton, settled 18300 yuan / ton, and closed at 18280 yuan / ton, down 240 yuan
    .
    Today's Shanghai aluminum trend is weak, primary aluminum production may continue to grow until 2024, the current social inventory destocking speed has slowed down significantly, the Fed's concerns about tightening monetary policy have heated up, and aluminum prices are under pressure
    .

    Shanghai aluminum

    Today's London aluminum narrow range, Beijing time at 15:01 the latest quotation of 2402 US dollars / ton, down 3 US dollars, or 0.
    12%,
    from the settlement price of the previous trading day.

    In terms of the market, today's spot trading price of Yangtze River is 18230-18270 yuan / ton, down 410 yuan; Guangdong South Reserve reported 18460-18520 yuan / ton, down 380 yuan; Hua reported 18350-18370 yuan / ton, down 410 yuan
    .
    The holder sells at a good price, the receiver is active in inquiry, the transaction at a low price is the mainstay, and the enthusiasm of large households to receive goods is acceptable
    .

    In terms of news, research institute Antaike said that China's primary aluminum production will continue to grow until 2024, waiting for recycled metals to account for a larger share of consumption, recent storage concerns have resurfaced, there is still pressure on the supply side, and spot aluminum prices are expected to fall
    .

    From a fundamental point of view, the continuous promotion of the "ceiling" limit of electrolytic aluminum production capacity and the goal of carbon neutrality, the tight power supply in Yunnan, Guangdong and other regions, and a series of events such as peak shifting production have put pressure on the supply side, and the aluminum supply has tightened; Traditional demand for real estate, automobiles, and home appliances is better, and green transformation has brought rapid growth in demand for new energy.
    On the inventory side, LME aluminum and Shanghai aluminum stocks are slightly destocked, and overall, the aluminum fundamentals are well supported
    .

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