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Today's Shanghai aluminum main month 2008 contract opened at 14205 yuan / ton, the highest intraday 14315 yuan / ton, the lowest 14135 yuan / ton, settled 14215 yuan / ton, and closed at 14290 yuan / ton, up 240 yuan
.
Today's Shanghai aluminum trend is strong, domestic social inventory has reached a new low, but the downstream has entered the traditional off-season, short-term aluminum prices fluctuated
at a high level.
In terms of external trading, today's Lun aluminum opened higher, LME three-month aluminum Beijing time at 15:00 at 1679.
5 US dollars / ton, up 14.
5 US dollars, or 0.
87%,
from the previous trading day's settlement price.
In terms of the market, today's spot trading price of Yangtze River is 14460-14500 yuan / ton, up 160 yuan; Guangdong South Reserve reported 14370-14430 yuan / ton, up 100 yuan; Hua reported 14560-14580 yuan / ton, up 150 yuan
.
Holders actively ship, large households are more enthusiastic about receiving goods, middlemen are enthusiastic about receiving goods, and downstream goods are mainly on demand
.
Industry highlights, Rio Tinto said on Thursday it would close its New Zealand aluminium smelter due to high costs and a difficult market environment
.
The decision put more than 1,000 jobs at risk and hit New Zealand's power giant
hard.
Rio Tinto has a 79.
4% stake in the New Zealand aluminium smelter, which produces 340,000 tonnes
of high-grade aluminium per annum.
With the time into July, off-season consumption gradually reflected, spot market trading activity is sluggish, downstream new orders also declined significantly, and exports, May unforged aluminum and aluminum exports of 382,900 tons, year-on-year and month-on-month decline, overseas is currently in the stage of economic recovery, but in the case of high internal and external ratios, the export increment driven by the improvement of external demand is still limited, and exports are expected to remain low
.
On the supply side, although there have been unexpected production cuts recently, the overall supply has shown a continuous growth trend
under the condition of continuous release of production capacity.
On the cost side, following the announcement of Chinalco's alumina plant in Shanxi Province will enter flexible production, the rebound of alumina prices has accelerated, and the short-term supply tension pattern may intensify, increasing the space
for alumina price rebound.
At present, inventory is close to the inflection point, and the accumulation of inventory in the third quarter is regarded as inevitable, but the accumulation range determines whether the aluminum price falls smoothly, and in the short term, the aluminum price will still run
high.
