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The speed of destocking has slowed down significantly, and the space above the aluminum price is limited

 Last Update: 2022-12-20
 Source: Internet
 Author: User

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Last Friday, the main monthly 2012 contract of Shanghai aluminum opened at 14370 yuan / ton, the highest intraday 14475 yuan / ton, the lowest 14320 yuan / ton, settled 14400 yuan / ton, and closed at 14370 yuan / ton, up 10 yuan
.
During the day, the Shanghai aluminum shock was strong, the speed of destocking slowed down significantly, the investment and recovery capacity continued to be released, and the space above the aluminum price was limited
.

Aluminum prices

In the external market, Lun aluminum rushed back down, and the LME three-month aluminum was reported at 1802.
5 US dollars / ton at 15:00 Beijing time, down 1.
5 US dollars, or 0.
08%,
from the settlement price of the previous trading day.

In terms of the market, the spot trading price of Yangtze River was 14800-14840 yuan / ton, up 120 yuan; Guangdong South Reserve reported 14740-14800 yuan / ton, up 90 yuan; Hua reported 14920-14940 yuan / ton, up 120 yuan
.
Holders are actively shipping, the enthusiasm of large households is acceptable, downstream demand is the mainstay, and transaction activity is warmer
than before.

Industry news, Henan Tianjiao Aluminum Co.
, Ltd.
annual output of 7,000 tons of aluminum deep processing project put into operation
ahead of schedule.
The project has an estimated total investment of 200 million yuan, a total area of 17,202 square meters, and a total construction area of 20,175 square meters
.

Downstream consumption has not weakened significantly recently, exports are slowly repaired, aluminum ingot social inventory has decreased slightly from last week, and there is still support in the low inventory state, and spot aluminum prices are expected to rise or fall little
.

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