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Soaring energy prices drive nonferrous metals higher Shanghai aluminum continues to run at a high level

 Last Update: 2022-12-24
 Source: Internet
 Author: User

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Today's Shanghai aluminum main month 2205 contract, opening 23260 yuan / ton, the highest intraday 23465 yuan / ton, the lowest 23130 yuan / ton, settlement 22980 yuan / ton, the end closed at 23190 yuan / ton, up 210 yuan, or 0.
91%.

Shanghai aluminum

Today, Lun aluminum rushed back down, and the LME reported at $3,680 / ton at 15:01 Beijing time for three months, down $5, or 0.
15%,
from the previous trading day's settlement price.

On the news, energy prices rose in response, and European natural gas prices soared 34% intraday, pushing up aluminum prices
from the emotional side and cost side.
From the current fundamental point of view, the overseas supply side is still tight, and the LME inventory dematerialization and the EU aluminum premium are at a high level, all indicating that overseas is still in a state
of shortage of stock.

In terms of the market, today's spot trading price of Yangtze River is 23140-23180 yuan / ton, up 250 yuan; Guangdong South Reserve reported 23150-23210 yuan / ton, up 230 yuan; Hua reported 23190-23230 yuan / ton, up 240 yuan
.
Near the end of the month, the holders adjusted the price and shipped actively, although the receiver entered the market to inquire, but the purchase was still based on the price reduction and rigid demand, the overall trading atmosphere was not good, and the transaction volume was limited
.

Today's Shanghai aluminum is running strongly, European natural gas prices soared again, and London nickel rose again, driving the nonferrous metal collective higher, Shanghai aluminum followed the rise, superimposed on the domestic aluminum ingot destocking performance is eye-catching, aluminum prices continue to run
high.

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