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    Home > Chemicals Industry > New Chemical Materials > The price decline before the Shanghai aluminum festival is treated with a wait-and-see approach in the short term

    The price decline before the Shanghai aluminum festival is treated with a wait-and-see approach in the short term

    • Last Update: 2022-12-25
    • Source: Internet
    • Author: User
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    Yesterday's Shanghai aluminum main contract 2206 opened at 20600 yuan / ton, the highest price of the day 21035 yuan / ton, the lowest 20295 yuan / ton, closed at 20715 yuan / ton, up 15 yuan from the previous trading day's closing price, an increase of 0.
    07%.

    Shanghai aluminum

    Yesterday's aluminum prices fluctuated at a low level, market pessimism eased, and the spot market traded generally
    .
    East China spot discount narrowed slightly in the morning, the actual transaction pair was around 30 yuan / ton discount in the month, and East China spot trading was concentrated around 20740 yuan / ton
    .
    Compared with the price discount in East China slightly narrowed the pattern, the spot in the Central Plains turned to premium, with the absolute price fell sharply, superimposed on the aluminum ingot inventory in Gongyi area continued to decline, the willingness of holders to hold up the price is sufficient, the morning spot transaction turned to 200-220 yuan / ton mainly, some quotations as high as 260 yuan / ton, but the downstream chasing sentiment is slightly insufficient
    .

    In terms of domestic supply, the starting capacity of electrolytic aluminum supply continued to rise, and the increase in production capacity slowed down slightly, but the release of output continued to increase, and the supply pressure continued
    .
    Recently, under the policy intervention, transportation in some areas has improved slightly, and enterprises have begun to resume work and production, but consumption has not returned to normal levels
    .
    According to customs data in March, the export data of primary aluminum and aluminum products increased year-on-year, and it is necessary to pay attention to the interference of the epidemic on port unloading and shipping
    .

    In terms of inventory, domestic social library data showed a slight destocking of inventory, and overseas inventories fell to about 580,000 tons, at a historical low
    .
    As of April 25, domestic aluminum ingot stocks were 1.
    016 million tons, down 05,000 tons
    from the previous week.
    As of April 26, LME aluminum stocks were -0.
    44 million tonnes to 579,600 tonnes
    from the previous session.

    In terms of price, the current aluminum market has a phased mismatch between supply and demand affected by the epidemic, but the decline in aluminum prices before the holiday may stimulate the downstream replenishment, and it is recommended to treat it with a wait-and-see approach in the short term
    .

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