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Aluminum market review: Today's Shanghai aluminum continued to be strong and volatile, as of the close of 3 pm, the main 2012 contract of Shanghai aluminum closed up at 15755, up 165, or 1.
06%.
In terms of spot, LME aluminum spot discount was $16.
50/tonne, compared with $15.
00/ton
in the previous session.
East China's mainstream transaction price is between 15750-15770 yuan / ton, up 160 yuan / ton from yesterday, spot premium is around 190-210 yuan / ton, the holder's premium quotation has not retraced, the spot price has soared, the quotation is even close to 15850 yuan / ton, but at this time the transaction is almost nothing, the holder is cautious about the future market to wait and see the shipment, and the middleman is afraid to receive the goods at the
same time.
A large household partially received the goods at a price of 15,750 yuan / ton, and the procurement plan was basically completed
.
The downstream is still mainly on-demand pick-up
.
In terms of stocks, LME aluminium ingot stocks decreased by 0.
72 million tonnes to 1,409,500 tonnes
on November 17.
According to my nonferrous metals, on November 16, the domestic social stock of aluminum ingots decreased by 10,000 tons from Thursday to 617,000 tons
.
Due to the tight circulation of spot and the large number of traders receiving goods, the market bullish sentiment has risen again, further attracting bulls to enter, and it is expected that aluminum inventories will be maintained on Thursday
.
The supply side of electrolytic aluminum has maintained a steady rise, smelter profits have remained high, the biggest change in the domestic supply side is the import of scrap aluminum to be confirmed, the increase in scrap aluminum imports in November is a high probability event, the excess pressure of aluminum ingots will further increase, and the pressure on the supply side in the fourth quarter is greater than the previous period
.
However, inventories have never shown an inflection point, aluminum ingots are destocked again, coupled with the short-term expectation of production reduction in the winter heating season is still boosting aluminum prices, and aluminum ingot premiums are high again after the change of month, and it is expected that aluminum prices are expected to maintain a high volatility pattern under the strong performance of the consumer side
.
