echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > Aluminum prices are strong outside and weak inside Continue to pay attention to geopolitical impact

    Aluminum prices are strong outside and weak inside Continue to pay attention to geopolitical impact

    • Last Update: 2022-12-24
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    Yesterday's daytime decline in aluminum prices narrowed, and the night trading steadily recovered, we need to continue to pay attention to the impact of
    geopolitics on prices.
    Specifically, yesterday's main contract 2204 opened at 21825 yuan / ton, the highest price of the day was 21825 yuan / ton, the lowest was 21135 yuan / ton, and closed at 21735 yuan / ton, down 95 yuan from the previous trading day's closing price, down 0.
    44%.

    Aluminum prices

    Rio Tinto is seeking to stop shipping bauxite to a Russian plant
    .
    Under the Russian-Ukrainian conflict, Rusal's exports and transportation may be blocked, coupled with European energy prices continue to rise, European electrolytic aluminum production reduction concerns continue to heat up
    .

    In terms of domestic fundamentals, Yunnan, Inner Mongolia and other places have begun to resume production, and the process of resumption of production is uneven
    .
    The aluminum market shows a state of external strength and internal weakness, and the import window continues to close
    .
    In terms of consumption, downstream consumption just needs a seasonal slow recovery, but considering the current high aluminum prices or suppressing demand, it is necessary to pay attention to the impact
    of the epidemic and environmental protection control in the north on the downstream resumption of work.

    In terms of inventory, social library data shows that inventory has dematerialized, and it is necessary to pay attention to the follow-up destocking efforts
    .
    On March 10, domestic aluminum ingot stocks were 1.
    142 million tons, 02,000 tons
    more than Monday.
    LME aluminum inventories fell by 8,400 tonnes from the previous session to 763,000 tonnes on March 10
    .

    In terms of price, the threat of the energy crisis to overseas electrolytic aluminum production capacity may continue, and it is necessary to continue to pay attention to the progress of domestic electrolytic aluminum production and the recovery of downstream demand.

    This article is an English version of an article which is originally in the Chinese language on echemi.com and is provided for information purposes only. This website makes no representation or warranty of any kind, either expressed or implied, as to the accuracy, completeness ownership or reliability of the article or any translations thereof. If you have any concerns or complaints relating to the article, please send an email, providing a detailed description of the concern or complaint, to service@echemi.com. A staff member will contact you within 5 working days. Once verified, infringing content will be removed immediately.

    Contact Us

    The source of this page with content of products and services is from Internet, which doesn't represent ECHEMI's opinion. If you have any queries, please write to service@echemi.com. It will be replied within 5 days.

    Moreover, if you find any instances of plagiarism from the page, please send email to service@echemi.com with relevant evidence.