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The short-term off-season may further increase the pressure on aluminum prices to pullback

 Last Update: 2022-12-19
 Source: Internet
 Author: User

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Today's Shanghai aluminum main month 2009 contract opened at 14640 yuan / ton, the highest intraday 14775 yuan / ton, the lowest 14585 yuan / ton, settled 14660 yuan / ton, and closed at 14755 yuan / ton, down 65 yuan
.
Today's Shanghai aluminum is running weakly, and the orders of small and medium-sized enterprises have not improved, but the confidence of the "Golden Nine Silver Ten" market has gradually increased, and short-term aluminum prices have maintained volatility
.

Aluminum prices

In the external market, Lun aluminum opened higher, LME three-month aluminum Beijing time at 15:01 at 1780.
5 US dollars / ton, up 12.
5 US dollars, or 0.
71%,
from the previous trading day's settlement price.

In terms of the market, today's spot trading price of Yangtze River was 14670-14710 yuan / ton, down 130 yuan; Guangdong South Reserve reported 14660-14720 yuan / ton, down 130 yuan; Hua reported 14790-14810 yuan / ton, down 140 yuan
.
The enthusiasm of market shipments is acceptable, and downstream on-demand procurement is not
good.

Industry news, Yunnan Shenhuo Aluminum Co.
, Ltd.
will complete the second phase of project construction
at the end of September.
The annual production capacity of electrolytic aluminum will be expanded from the current 450,000 tons to 900,000 tons
.
The company has been producing since the beginning of this year and currently operates with an annual production capacity of about 400,000 tons
.

With the rise in prices, the current profits of aluminum companies have improved significantly, the short-term off-season may further increase the pressure of aluminum price correction, aluminum ingot supply is expected to improve, but the later period is expected to remain tight overall, and it is recommended to be long in operation
.

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