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Shanghai aluminum volatility rises, fundamentals give strong support

 Last Update: 2022-12-22
 Source: Internet
 Author: User

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Today's Shanghai aluminum main month 2109 contract, opening 20175 yuan / ton, the highest intraday 20575 yuan / ton, the lowest 20135 yuan / ton, settlement 20350 yuan / ton, the end of the close to 20515 yuan / ton, up 270 yuan
.
Today's Shanghai aluminum shock is higher, power restrictions and production restrictions in various places continue, electrolytic aluminum production continues to decline, the gap between supply and demand continues to expand, and fundamentals give strong support
to aluminum prices.

Shanghai aluminum

Today's Lun aluminum volatility rose, LME three-month Beijing time at 15:01 at 2633 US dollars / ton, up 29 US dollars, or 1.
11%,
from the previous trading day's settlement price.

In terms of the market, today's spot trading price of Yangtze River is 20200-20240 yuan / ton, down 10 yuan; Guangdong South Reserve reported 20330-20390 yuan / ton, up 30 yuan; China reported 20260-20300 yuan / ton, down 20 yuan
.
The willingness of the holder to raise the price is general, the receiver is mainly purchasing on demand, the enthusiasm of the large household to receive the goods is general, and the overall transaction is light
.

Electrolytic aluminum production production continued to decline in July and the average daily aluminum production has fallen from the lowest level since October 2020.

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