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    Home > Chemicals Industry > New Chemical Materials > The market atmosphere is more Shanghai aluminum volatility is on the rise

    The market atmosphere is more Shanghai aluminum volatility is on the rise

    • Last Update: 2022-12-01
    • Source: Internet
    • Author: User
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    On Wednesday, the main monthly 1606 contract of Shanghai aluminum opened at 12055 yuan, the intraday high was 12120 yuan, and the low was 12025 yuan, and the end of the day closed at 12075, up 80 yuan / ton
    from the previous trading day.
    Affected by the favorable real estate personal loan data at night, it opened high at 12115 yuan / ton, and the trend was strong after a slight consolidation, and the high once touched 12295 yuan / ton, and finally closed at 11270 yuan / ton
    .

    Shanghai aluminum

    In the external market, Lun aluminum opened at 1585 US dollars / ton, and then the price fluctuated all the way up, and finally closed at 1624.
    5 US dollars / ton, the highest price
    since October 12 last year.
    The $39/mt increase was the biggest increase since November 26 last year
    .

    On the macro front, the total number of existing home sales in the United States in March was 5.
    33 million annualized, slightly stronger than the forecast of 5.
    28 million
    .
    The Baltic Dry Index ended a 16-day winning streak, down 0.
    3% to 669
    .
    Japan's March exports were -6.
    8% y/y, -7% expected, -4% prior; Imports -14.
    9% y/y, -16.
    6% expected, -14.
    2%
    prior.

    In terms of the market, the spot price exceeded 12,000 yuan / ton, the willingness to receive goods downstream has weakened, the market supply is stable, and the transaction quantity is average
    .
    The price of Nanchu East China aluminum ingots was 12040-12080 yuan, with an average price of 12060 yuan, up 90 yuan
    from the previous trading day.
    The price of South China aluminum ingots was 12110-12210 yuan, with an average price of 12160 yuan, up 80 yuan
    from the previous trading day.
    The domestic price of alumina remained unchanged yesterday, and Australian imports of alumina edged up $2/ton
    .

    In terms of the industry, informed sources revealed that the production of aluminum alloy ingots in the first quarter of Ye Chiu Resources, the only listed company in China's recycled aluminum alloy,
    fell by 20% year-on-year, mainly due to the shortage of scrap aluminum raw materials and weak downstream demand.
    Market participants said that alumina prices in Guizhou will remain stable
    in the short term.
    The price of alumina in Guizhou has hardly changed since the Qingming Festival, and the purchasing intention of electrolytic aluminum plants is general, mainly on-demand procurement
    .
    Alumina in Guizhou is the main source
    of some electrolytic aluminum plants in Xinjiang.

    To sum up, intraday aluminum steady steady and gradually upward, Shanghai aluminum slightly higher, the external performance is more eye-catching, the overall atmosphere of the aluminum market is more, it is expected that the recent aluminum price shows a strong trend of volatility, short and many ideas do not change, investors can continue to maintain a wait-and-see attitude
    .

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