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There is a possibility that aluminum prices may fall back Focus on destocking sustainability

 Last Update: 2022-12-19
 Source: Internet
 Author: User

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Today's Shanghai aluminum main month 2010 contract opened at 14625 yuan / ton, the highest intraday 14675 yuan / ton, the lowest 14520 yuan / ton, settled 14590 yuan / ton, and closed at 14525 yuan / ton, down 130 yuan
.
Today's Shanghai aluminum shock weakened, electrolytic aluminum production continued to release, the pressure on the supply side was greater than in the previous period, and aluminum prices may
fall.

Aluminum prices

In terms of external trading, today's Lun aluminum rushed back down, LME three-month aluminum Beijing time at 15:15 at 1776.
5 US dollars / ton, down 5.
5 US dollars, or 0.
31%,
from the previous trading day's settlement price.

In terms of the market, today's spot trading price of Yangtze River is 14740-14780 yuan / ton, down 10 yuan; Guangdong South Reserve reported 14890-14950 yuan / ton, down 40 yuan; Hua reported 14840-14860 yuan / ton, down 40 yuan
.
Traders mainly ship goods, large households are generally enthusiastic about receiving goods, downstream mining is not good, and the overall transaction is flat
.

With the recent rebound of the overseas epidemic, the market's concerns about economic recovery have exploded, global stock markets and commodities have fallen sharply, and Shanghai aluminum has fallen but its performance has resisted
.
At the beginning of the week, the social inventory of aluminum ingots fell by 05,000 tons from last Thursday, and the spot premium of aluminum ingots remained at a high level
of 120 yuan.
The market has peak season destocking expectations, and pays attention to destocking sustainability
.

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