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    Home > Chemicals Industry > New Chemical Materials > The pressure on the supply side increased, and Shanghai aluminum maintained its strength in the short term

    The pressure on the supply side increased, and Shanghai aluminum maintained its strength in the short term

    • Last Update: 2022-12-20
    • Source: Internet
    • Author: User
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    Today's Shanghai aluminum main month 2011 contract opened at 14685 yuan / ton, the highest intraday 14770 yuan / ton, the lowest 14685 yuan / ton, settled 14720 yuan / ton, and closed at 14725 yuan / ton, down 35 yuan
    .
    Today's Shanghai aluminum is weak and volatile, electrolytic aluminum social inventory steadily destocked, but in the fourth quarter the pressure on the supply side increased, aluminum prices or maintain a volatile trend
    .

    Shanghai aluminum

    In terms of external trading, today's Lun aluminum is running weakly, LME three-month aluminum Beijing time at 15:01 at 1843.
    5 US dollars / ton, down 4.
    5 US dollars, or 0.
    24%,
    from the previous trading day's settlement price.

    In terms of the market, today's spot trading price of Yangtze River is 14920-14960 yuan / ton, unchanged; Guangdong South Reserve reported 14910-14970 yuan / ton, down 60 yuan; Hua reported 15030-15050 yuan / ton, down 10 yuan
    .
    Cargo holders actively ship, large households are generally enthusiastic about receiving goods, downstream replenishment on demand, poor demand, and flat trading performance
    .

    Industry news, Rio Tinto expects that the company's alumina shipments in 2020 are expected to increase by 200,000 tons to 13.
    8 million to 13.
    9 million tons
    due to higher production.
    Annual bauxite shipments are estimated to be between 48 million and 49 million dry tons, and aluminum shipments are between
    2.
    9 million and 3 million tons.

    Electrolytic aluminum social stocks continue to decline, the latest inventory shows 695,000 tons, down 08,000 tons from the previous value, and the inventory returns to below 700,000 tons, which has some support
    for prices.
    Coupled with the market's optimistic expectations for economic recovery and the marginal improvement of demand, the price of Shanghai aluminum has been rising recently, and the main contract has approached 15,000 yuan / ton
    .
    However, the profit of electrolytic aluminum plant is still high, and many electrolytic aluminum plants have been put into operation under the stimulation of profits, and the supply pressure of electrolytic aluminum in the fourth quarter is greater
    .
    At the same time, Hydro Brazilian alumina plant resumed production ahead of schedule, and it was difficult for alumina prices to rise, and the cost boost to electrolytic aluminum prices was weakened
    .
    On the whole, the price of Shanghai aluminum remains strong in the short term, and the 15,000 integer has certain pressure, and investors recommend waiting and seeing
    for the time being.

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