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    Home > Chemicals Industry > New Chemical Materials > The demand side is still weakening, limiting the upside of Shanghai and aluminum

    The demand side is still weakening, limiting the upside of Shanghai and aluminum

    • Last Update: 2022-12-29
    • Source: Internet
    • Author: User
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    Today's Shanghai aluminum main month 2301 contract, opening 18725 yuan / ton, the highest intraday 18865 yuan / ton, the lowest 18725 yuan / ton, settlement 18700 yuan / ton, the end closed at 18800 yuan / ton, up 100 yuan, or 0.
    53%.

    Shanghai aluminum

    Today's Lun aluminum trend fluctuated, LME three-month Beijing time at 15:01 at 2457 US dollars / ton, up 3 US dollars, or 0.
    12%,
    from the previous trading day's settlement price.

    In terms of the market, today's spot trading price of the Yangtze River is 18920-18960 yuan / ton, up 10 yuan, 120-160 liters; Guangdong spot 18780-18840 yuan / ton, down 40 yuan, discount 20-liter 40; Hua reported 18980-19020 yuan / ton, up 30 yuan
    .
    Today's spot trading atmosphere is weak, long-term large households have no willingness to raise prices, choose to reduce shipments, some buyers make up for low-priced sources, and the overall transaction performance is reluctant
    .

    The domestic supply side of Guangxi and Sichuan electrolytic aluminum production capacity continued to slowly resume production, while the production capacity in Shanxi Henan decreased slightly, and the new production capacity in Inner Mongolia and Gansu will gradually be comfortable
    in the future.
    However, the latest news Guizhou electrolytic aluminum enterprises will reduce production capacity, and the impact on the total production capacity is about 400,000 tons
    .

    On the demand side, the operating conditions of downstream processing enterprises decreased
    slightly month-on-month.
    In terms of inventory, the speed of domestic social inventory destocking slowed down significantly, and Lun aluminum inventory continued to decline
    .

    At present, due to the impact of the national epidemic, supply and demand are weak, and the supply side is also disturbed by the original weakening of the plate, it is recommended to take profit on short orders, and the range shock will continue in the medium and long term
    .
    It is necessary to pay attention to the further development of power cuts, the epidemic and geopolitics, with the pressure level above the main contract at 20,000 and the support level below at 17,000.

    Today's Shanghai aluminum high opened volatile, US inflation expectations fell in November, driving bets that the Federal Reserve slowed interest rate hikes, and a weaker US dollar supported
    aluminum prices.
    The new disturbance on the domestic supply side is expected to delay the accumulation, but the demand side is still weakening, limiting the upside
    of prices.

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