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The short-term market supply and demand gap still exists, and there is still support below Shanghai aluminum

 Last Update: 2022-12-22
 Source: Internet
 Author: User

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Today's Shanghai aluminum main month 2108 contract, opening 18950 yuan / ton, the highest intraday 19300 yuan / ton, the lowest 18940 yuan / ton, settlement 19085 yuan / ton, the end of the close to 19235 yuan / ton, up 150 yuan
.
Today's Shanghai aluminum opened low and high, the recent resumption of production projects increased, aluminum ingot inventory has not fully entered the accumulation warehouse, and domestic electrolytic aluminum further destocking, short-term market supply and demand gap still exists, forming a strong support
for aluminum prices.

Shanghai aluminum

Today's Lun aluminum is strongly volatile, LME three-month Beijing time at 15:02 at 2503 US dollars / ton, up 10 US dollars, or 0.
38%,
from the previous trading day's settlement price.

In terms of the market, today's spot trading price of Yangtze River is 19150-19190 yuan / ton, up 130 yuan; Guangdong South Reserve reported 19160-19220 yuan / ton, up 100 yuan; Hua reported 19190-19230 yuan / ton, up 100 yuan
.
The cargo holder ships at a good price, the receiver has a high enthusiasm for bargain hunting, and the market transaction is acceptable
.

In terms of news, new investment projects such as Guangxi Bai Mine continue to be put into operation, and Qinghai Haiyuan, Shaanxi Zhaofeng, Shaanxi Hengkang and other electrolytic aluminum plants continue to resume production, and the monthly output is expected to reach 3.
325 million tons, but the social inventory of aluminum ingots continues to decline, destocking will continue, the short-term supply gap still exists, there is still support below the price of aluminum, and it is expected that the current aluminum will rise
further.

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