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The upward resistance is large, and the Shanghai aluminum shock falls

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

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Today's Shanghai aluminum main month 2101 contract opened at 16655 yuan / ton, the highest intraday 16760 yuan / ton, the lowest 16230 yuan / ton, settled 16425 yuan / ton, and closed at 16280 yuan / ton, down 390 yuan
.
Today, Shanghai aluminum continues to weaken, domestic environmental protection production restrictions expand, affecting downstream aluminum processing enterprises, and electrolytic aluminum production capacity continues to release
.

Shanghai aluminum

Today, LME three-month aluminum opened low and went low, and the LME three-month aluminum was reported at 2031 US dollars / ton at 15:00 Beijing time, down 24 US dollars, or 1.
17%,
from the settlement price of the previous trading day.

In terms of the market, today's spot trading price of Yangtze River is 16510-16550 yuan / ton, down 430 yuan; Guangdong South Reserve reported 16620-16680 yuan / ton, down 430 yuan; Hua reported 16620-16640 yuan / ton, down 430 yuan
.
Holders actively ship, downstream purchasing willingness is enhanced, large households are generally enthusiastic about receiving goods, and the overall transaction is acceptable
.

Industry news, on the 17th, Alcoa announced that it will stop its reduction plan at the San Cyprian aluminum smelter in Spain, while also reviewing a court ruling
related to the collective dismissal procedure.
Earlier, Alcoa announced that it would cut the annual capacity
of the aluminum smelter by 228,000 tons.

Short-term macro risks and strong spot fundamentals, and high spot premiums provide solid price support; The import window continues to open, aluminum ingot imports are expected to be strong, coupled with the recent weak consumption, it is expected that imported aluminum ingots will flood into the market, suppressing the rise of Shanghai aluminum resistance is greater, it is recommended to operate in the short term
.

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