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    Home > Chemicals Industry > New Chemical Materials > Weak fundamentals Shanghai aluminum may continue to fluctuate

    Weak fundamentals Shanghai aluminum may continue to fluctuate

    • Last Update: 2022-12-19
    • Source: Internet
    • Author: User
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    Today's Shanghai aluminum main month 2009 contract opened at 14395 yuan / ton, the highest intraday 14450 yuan / ton, the lowest 14245 yuan / ton, settled 14335 yuan / ton, and closed at 14405 yuan / ton, up 40 yuan
    .
    Today's Shanghai aluminum bottoming out, electrolytic aluminum production capacity continues to release, aluminum ingot inventory has accumulated, short-term aluminum prices may maintain a volatile pattern
    .

    Shanghai aluminum

    Today, LME three-month aluminum opened higher and higher, and the LME three-month aluminum Beijing time was reported at 1760 US dollars / ton at 15:01, up 19 US dollars, or 1.
    09%,
    from the previous trading day's settlement price.

    In terms of the market, today's spot trading price of Yangtze River is 14400-14440 yuan / ton, down 140 yuan; Guangdong South Reserve reported 14350-14410 yuan / ton, down 110 yuan; Hua reported 14510-14530 yuan / ton, down 140 yuan
    .
    The enthusiasm of large households to receive goods is general, traders are more active, the sentiment of downstream bargain picking is improved, and the transaction is
    acceptable.

    Industry news, on August 16, Guizhou Jiuheng Aluminum Industry annual output of 30,000 tons of aluminum profile project put into operation
    .
    The total investment of the project is 300 million yuan, the construction of aluminum alloy building energy-saving profile and industrial profile processing and its supporting and downstream industry projects, the construction of 4 aluminum profile and industrial aluminum profile production lines, the project can achieve an output value of 1 billion yuan
    .

    The demand side entered the market consumption off-season in August, the new orders of downstream enterprises gradually declined, the operating rate of leading enterprises remained stable, the operating rate of small and medium-sized enterprises declined due to insufficient orders, and domestic demand weakened
    .
    The trend of weak fundamentals is still continuing, but low inventories still have some support for aluminum prices, and Shanghai aluminum may continue to fluctuate in
    the short term.

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