echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > The aluminum market is still in the off-season of demand in the short term, and the pressure on the supply side is not reduced

    The aluminum market is still in the off-season of demand in the short term, and the pressure on the supply side is not reduced

    • Last Update: 2022-12-06
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    On Friday, Shanghai aluminum opened at 13805 yuan / ton in the morning, after the opening of Shanghai aluminum narrow range below the daily moving average, during the long many attempts to push up Shanghai aluminum formation effective breakthrough failed, then bears gradually dominated, aluminum prices steadily moved down, in the afternoon bears suddenly concentrated on increasing positions, Shanghai aluminum diving to refresh a new low since January at the beginning of the year of 13630 yuan / ton, closed at 13645 yuan / ton
    .
    Market demand entered the off-season ahead of schedule, the pressure on the supply side of the aluminum market is not reduced, there is no news about supply and reform, market confidence is gradually worn out, and it is expected that the mainstream operating range of Shanghai aluminum next week will be 13450~13800 yuan / ton
    .

    Aluminum City

    In terms of the external market, the morning Lun aluminum opened at 1906 US dollars / ton, the Asian market before the afternoon Lun aluminum trend is light, around the 5-day moving average narrow finishing, the afternoon external internal disk at the same time put the volume down, the center of gravity of Lun aluminum fell sharply, the low touched 1889 US dollars / ton, into the European trading session short cover, Lun aluminum obtained a technical rebound to near the daily moving average, as of 16:43, Lun aluminum reported 1895 US dollars / ton
    。 It is understood that some Japanese aluminum buyers have agreed to set the aluminum premium in the third quarter at $119 per ton, which is down 7% from $128 in the second quarter, and it is also the first quarter of the decline in three quarters, and overseas demand is gradually weakening, and it is expected that Lun aluminum will run weakly next week, with a mainstream range of 1870~1920 US dollars / ton
    .

    In terms of the market, aluminum futures fluctuated
    in a narrow range around 13675 yuan / ton that month.
    Shanghai trading concentrated 13630-13640 yuan / ton, for the month discount 50-40 yuan / ton, Wuxi transaction concentrated 13630-13640 yuan / ton, Hangzhou transaction concentrated 13640-13650 yuan / ton
    .
    This cycle, aluminum fluctuated at a low level, holders shipped steadily, downstream enterprises purchased on demand, and the weekend stocking was not strong, and the overall transaction maintained stability, and concentrated on low prices
    .
    The overall daytime trading this week was relatively flat and stable
    .
    In the late afternoon, the opening of the month dived about 100 yuan, and the transaction price in East China was concentrated at 13530-13620 yuan / ton
    .

    The quotation of South Reserve East China aluminum ingots is 13600-13640 yuan, and the average price is 13620 yuan, which is flat
    .
    Spot prices rose slightly, downstream weekend stocking enthusiasm is not high, only on-demand procurement, the overall transaction atmosphere of the market is general
    .
    The transaction price in Shanghai was 13630-13640 yuan, which was 10 to Pingshui
    compared with the average price of South Reserve East China.
    The transaction price of Wuxi is 13630-13640 yuan, which is 10 to Pingshui compared with the average price of South Reserve East China
    .

    The price of South China aluminum ingots was 13630-13730 yuan, and the average price was 13680 yuan, unchanged
    .
    Spot trading maintained a premium for the month, and the enthusiasm of cargo holders was undiminished; However, the downstream terminal demand is slightly insufficient, traders can receive goods at the low, the transaction price is slightly lower with the futures, and the mainstream transaction price is concentrated between 13690-13710 yuan, which is between 30 yuan than the average price of South China South China
    .

    At present, aluminum prices have not changed much after a small rise for several days, and in the short term, the aluminum market is still in the off-season of demand, and buyers' willingness to buy goods is not high, most of them maintain the strategy of rising prices and buying goods at a lower price
    .

    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.