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Social inventories continue to decline, and fundamentals still support Shanghai aluminum prices

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

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Today's Shanghai aluminum main month 2109 contract, opening 20020 yuan / ton, the highest intraday 20245 yuan / ton, the lowest 19970 yuan / ton, settlement 19860 yuan / ton, the end of the close to 20110 yuan / ton, up 250 yuan
.
Today's Shanghai aluminum is running strongly, the disturbance on the supply side of aluminum has increased, the supply continues to shrink to amplify the gap between supply and demand, and the social inventory of aluminum ingots continues to decline, and the fundamentals still support aluminum prices
.

Shanghai aluminum

Today's Lun aluminum trend was volatile, LME three-month Beijing time at 15:01 at 2585 US dollars / ton, down 1 US dollars, or 0.
04%
from the previous trading day's settlement price.

In terms of the market, today's spot trading price of Yangtze River is 20040-20080 yuan / ton, up 200 yuan; Guangdong South Reserve reported 20220-20280 yuan / ton, up 210 yuan; China reported 20110-20150 yuan / ton, up 210 yuan
.
In the spot market, holders generally ship at high prices, the receiving party has a high bullish sentiment and actively pursues, large households are generally enthusiastic about receiving goods, and the trading atmosphere is acceptable
.

In terms of news, the recent domestic power shortage has not been solved, which has a certain impact on downstream aluminum rods and processing enterprises, and the power rationing has been upgraded again, and there is continuous interference in production, aluminum ingots continue to go to storage and the inflection point of accumulation continues to move backward, and aluminum is expected to rise
.

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