echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > Stock index volatility closed higher, driving base metals to rebound, Shanghai aluminum performance is strong

    Stock index volatility closed higher, driving base metals to rebound, Shanghai aluminum performance is strong

    • Last Update: 2022-11-28
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    Today, the average price of nonferrous aluminum in the Yangtze River rose 10 to 10990, and the average price of nonferrous aluminum in the South China Sea fell 20 to 11230
    .
    Shanghai aluminum spot monthly contract 1603 opened at 11135, the highest 11140, the lowest 11030, closed at 11085, down 55 or 0.
    49%.

    As of press time, the London aluminum telegram was 3 at 1545.
    50, and the dollar index was at 97.
    59
    .

    Shanghai aluminum

    News side: 1.
    Fed Vice Chairman Fischer: Since the December rate hike, economic indicators indicate that the job market has continued to improve, and economic growth has accelerated
    in the latest quarter.
    If it were not for oil prices and the dollar exchange rate, US inflation would have reached 2%.

    U.
    S
    .
    productivity weaknesses are more temporary than long-term.
    Low oil prices are helping sustain consumer spending
    .
    Market volatility is affected
    by both China and oil prices.
    Central bank independence is important
    for good policy.

    2.
    On February 24, the Bureau of Statistics released market price statistics of 50 important production materials in 9 categories in mid-February, and the data showed that the price of aluminum ingots in mid-February was 10,771.
    6 yuan / ton, up 221.
    6 yuan from early February and 2.
    1%
    month-on-month.
    Among other non-ferrous metals, copper rose 0.
    5%; Zinc up 3.
    8%; Lead rose 0.
    5 percent
    .

    3.
    Since 2013, investment in the aluminum smelting industry has declined for three consecutive years, and the scale of net capacity growth has decreased
    year by year.
    In 2013, the production capacity of electrolytic aluminum increased by 5.
    35 million tons/year, in 2014 it increased by 4.
    07 million tons/year, and in 2015, the increase dropped to about 3 million tons/year, providing a strong guarantee
    for resolving overcapacity and adjusting the structure of supply and demand.
    In January ~ November 2015, the loss of state-owned aluminum smelting enterprises exceeded 6 billion yuan, while the profit of private enterprises exceeded 4 billion yuan
    .

    Tomorrow's aluminum price analysis: the stock index shock closed higher to drive the overall late recovery of base metals, short-term shock adjustment continued, Shanghai aluminum performance is still strong, did not show a significant decline
    .
    The basis was slightly repaired, and the spot discount was generally maintained at about
    200.
    Tomorrow's aluminum price material will not change much, for reference
    only.

    This article is an English version of an article which is originally in the Chinese language on echemi.com and is provided for information purposes only. This website makes no representation or warranty of any kind, either expressed or implied, as to the accuracy, completeness ownership or reliability of the article or any translations thereof. If you have any concerns or complaints relating to the article, please send an email, providing a detailed description of the concern or complaint, to service@echemi.com. A staff member will contact you within 5 working days. Once verified, infringing content will be removed immediately.

    Contact Us

    The source of this page with content of products and services is from Internet, which doesn't represent ECHEMI's opinion. If you have any queries, please write to service@echemi.com. It will be replied within 5 days.

    Moreover, if you find any instances of plagiarism from the page, please send email to service@echemi.com with relevant evidence.