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The traditional peak season is approaching and the center of gravity of Shanghai aluminum prices has shifted upward

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

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Today's Shanghai aluminum main month 2110 contract, opening at 20950 yuan / ton, the highest intraday 21550 yuan / ton, the lowest 20805 yuan / ton, settlement 20685 yuan / ton, the end closed at 21495 yuan / ton, up 810 yuan
.
Today's Shanghai aluminum trend is strong, Xinjiang production capacity pressure, Guangxi electrolyzer recovery also takes time, superimposed the third batch of reserves is less than expected, the short-term supply is weak, and the traditional peak season is approaching, aluminum prices are moving up
.

Shanghai aluminum

Due to the UK summer bank holiday, the London Metal Exchange (LME) is closed for one day on Monday, and there are no metal quotes
.

In terms of the market, today's spot trading price of Yangtze River is 21010-21050 yuan / ton, up 390 yuan; Guangdong South Reserve reported 21070-21130 yuan / ton, up 390 yuan; Hua reported 21060-21100 yuan / ton, up 400 yuan
.
Holders are willing to sell at a high price, downstream is afraid of heights to purchase at a low price, the trading atmosphere is good, and the overall transaction activity is
acceptable.

Repeated power rationing and dual control of energy consumption in many places in China affect electrolytic aluminum production, and recently Xinjiang Development and Reform Commission issued a reminder letter for electrolytic aluminum production limit, which put some over-production enterprises in the region under pressure, and the monthly output is expected to fall by about 20,000 tons.

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