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Yesterday's Shanghai aluminum weak shock, Shanghai aluminum main 2112 contract opened at 21850 yuan / ton in the morning, the market continued last week's decline, continued to fluctuate downward, the intraday high touched 22000 yuan / ton, the lowest to 20515 yuan / ton, fell below the 21000 yuan / ton mark, and finally closed at 21665 yuan / ton, down 345 yuan / ton from yesterday's end, down 1.
57%.
In terms of the market, East China spot discount to the plate surface of 90 yuan / ton, slightly stronger than last Friday, but the overall center of gravity is still close to 100 yuan, spot trading concentrated around 21640 yuan / ton, holders are actively shipped, downstream a little stock increase
.
According to statistics, passenger car production and sales in September totaled 1.
767 million units, down 13.
9% y/y, and 16.
5% y/y, down 2% y/y, and down 4.
8%
y/y, respectively.
Recently, Sichuan Province strictly prohibits the implementation of preferential electricity prices in the electrolytic aluminum industry, and the Zhejiang Provincial Development and Reform Commission has conducted a risk assessment
on the introduction of major policies for punitive electricity prices for high-energy-consuming enterprises.
Fundamentally, coal supply is still tight, and after entering the heating season, there may be further power cuts and production restrictions in the northern region
.
With the pullback in aluminum prices and the relaxation of power cuts in some downstream areas, the downstream just need to buy sentiment has been boosted, but the downstream processing enterprises are still weak, and the short-term still needs to be vigilant against the emergence
of negative feedback effects on demand.
In terms of inventory, due to the increase in arrivals in some regions, the domestic aluminum ingot social library continued to accumulate, but the increase in inventory decreased
.
In terms of price, although coal prices have declined in the short term due to regulatory influences, the production cost of electrolytic aluminum is still at a high level and the supply has a trend of further tightening.
