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On Tuesday, the main monthly 2210 contract of Shanghai aluminum opened at 18,900 yuan / ton, the highest intraday was 19,045 yuan / ton, the lowest was 18,640 yuan / ton, the settlement was 18,740 yuan / ton, and the end closed at 18,765 yuan / ton, up 25 yuan, or 0.
13%.
In the external market, the LME was quoted at $2,303 / ton at 15:01 Beijing time for three months, up $11, or 0.
46%,
from the previous trading day's settlement price.
In terms of the market, the spot transaction price of Yangtze River was 18680-18720 yuan / ton, down 100 yuan, and the discount was 65-25; Guangdong spot 18610-18670 yuan / ton, down 140 yuan, discount 135-discount 75; Hua reported 18740-18780 yuan / ton, down 90 yuan
.
In the spot market, the downstream bearish after the return of the holiday waited and missed, and the holders sharply reduced their shipments due to the pressure of the affected warehouse, and the overall oversupply and poor transaction were not good
.
Overseas, the "Nord Stream-1" natural gas pipeline indefinitely stopped gas supply, overseas energy crisis intensified, high energy prices made aluminum plants with large electricity consumption reduce production again, Europe's largest aluminum smelter Dunkirk aluminum announced on Tuesday to reduce production by 22%, recovery time to be determined, a total of about 105,000 tons of production capacity this year; Norway's large plant in Slovakia will also stop production this month, and the cumulative overseas production reduction may reach more than 1.
3 million tons within a year, accounting for about 1.
7% of global production capacity
。
Domestically, the static management of the epidemic in southwest China has tightened the circulation of alumina in Guiyang; The impact of power cuts in Sichuan-Chongqing region subsided, but it took months and great costs to restart production after the suspension of aluminum smelters, and electrolytic aluminum enterprises in Sichuan-Chongqing slowly resumed production, and supply could not be resumed at least by the end of October; The news of the tight supply of hydropower in Yunnan has fermented again, and the expected production reduction of Yunnan aluminum plant is mentioned again, even if it is only reduced by 10%, it will have a greater impact on the supply in September, and the specific production reduction and time in Yunnan need to wait for specific documents; Constant disruptions on the supply side support aluminum prices
.
On the demand side, LME aluminum inventories suddenly surged 11% on Tuesday, rebounding from a 30-year low, and the deterioration of the economic outlook suppressed demand, and overseas demand was worrying; The expected superimposed policy support of the domestic "Golden Nine Silver Ten" consumption season is expected to further improve
.
Shanghai aluminum opened high and fell during the day, and rebounded slightly at the end of the day, and the domestic consumption side was still weak, continuing to contain the trend of aluminum prices, but there were disturbances on the internal and external supply side, and still faced the risk of production reduction, and there was some support for the price in the short term, and Shanghai aluminum rebounded
slightly.
