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Today's Shanghai aluminum main month 2201 contract, opening 18925 yuan / ton, the highest intraday 19075 yuan / ton, the lowest 18605 yuan / ton, settlement 18795 yuan / ton, the end of the close to 18710 yuan / ton, down 85 yuan, down 0.
45%; The trading volume of the main 2201 contract of Shanghai aluminum decreased by 63,785 lots 352382 the whole day, and the position volume 191461 decreased by 85 lots
.
Today's Shanghai aluminum high fell, thermal coal long-term benchmark price finalized, boosted aluminum prices rebound, but macro bearish sentiment has not changed, Fed officials' attitude is still hawkish, and consumption seasonally weakened and the risk of further cost decline, aluminum prices will be under pressure lower
.
Today's London aluminum is weak and volatile, LME three-month Beijing time at 15:01 at 2604 US dollars / ton, down 12 US dollars, or 0.
46%
from the previous trading day's settlement price.
In terms of the market, today's spot trading price of Yangtze River is 18750-18790 yuan / ton, up 100 yuan; Guangdong South Reserve reported 18860-18920 yuan / ton, up 90 yuan; Hua reported 18810-18850 yuan / ton, up 90 yuan
.
Shippers ship at high prices, receivers purchase low-priced sources on demand, market trading is not good, and the overall transaction volume is weak
.
On the supply side, output remained low, and local autumn and winter heating season policy disturbances appeared
.
Consumption: the partial relaxation of real estate policy, it will take time to transform into real estate consumption improvement, the current actual consumption recovery is slow, the supply side is disturbed to drive aluminum ingots to destocking slightly, and the supply and demand of aluminum ingots throughout November are slightly weaker than expected
.
Cost side: alumina prices continue to fall, anodes also loosen, electrolytic aluminum costs continue to decline
.
Overall, short-term aluminum prices fluctuated operation, Evergrande broke out a default event over the weekend, Premier Li Keqiang also proposed that real estate market risk concerns may heat up, and RRR reduction expectations have formed a hedge, aluminum price trends are still difficult to achieve, prices or slightly under pressure; In the medium and long term, for aluminum prices to reverse the current decline, there must be a further significant contraction on the supply side, or a significant improvement on the demand side, which may require an improvement
in the real estate sector.
