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Today's Shanghai aluminum main month 2012 contract opened at 15180 yuan / ton, the highest intraday 15415 yuan / ton, the lowest 15130 yuan / ton, settled 15260 yuan / ton, and closed at 15350 yuan / ton, up 235 yuan
.
Today, Shanghai aluminum continues to be strong, aluminum market inventory continues to decline to provide support, consumption performance is not weak in the off-season, electrolytic aluminum production capacity release speed may slow down
.
In terms of external trading, today's London aluminum is strongly volatile, LME three-month aluminum Beijing time at 15:00 at 1924 US dollars / ton, up 7 US dollars, or 0.
37%,
from the previous trading day's settlement price.
In terms of the market, today's spot trading price of Yangtze River is 15460-15500 yuan / ton, up 120 yuan; Guangdong South Reserve reported 15480-15540 yuan / ton, up 140 yuan; Hua reported 15580-15600 yuan / ton, up 140 yuan
.
Holders shipped goods at high prices, the enthusiasm of large households to receive goods declined, downstream procurement was flat, and transaction activity weakened
.
In terms of stocks, LME aluminum ingot stocks decreased by 0.
62 million tons to 1.
4192 million tons
on November 11.
According to my nonferrous metals, on November 9, the domestic social stock of aluminum ingots decreased by 18,000 tons from last Thursday to 641,000 tons
.
Inventories remained low, and aluminum was expected to strengthen
.
The biggest change in the domestic supply side is the confirmation of imported scrap aluminum, indicating that the future refined aluminum will decline in the substitution effect of scrap aluminum, the increase in scrap aluminum imports is a high probability event, the excess pressure of aluminum ingots will further increase, and the short-term aluminum spot premium has fallen significantly, so the overall space above the aluminum price is limited
。 Smelter profits remain high, the industry investment capacity continues to release, the operating rate of the electrolytic aluminum industry continues to rise, the pressure on the supply side in the fourth quarter is greater than in the previous period, electrolytic aluminum inventories may accumulate, coupled with domestic and foreign alumina prices remain sluggish, electrolytic aluminum cost side support is insufficient, but the consumer side performance is strong, the overall aluminum price is expected to maintain a high shock pattern
.
