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    Home > Chemicals Industry > New Chemical Materials > Aluminum prices continue to run under pressure and pay attention to the inflection point of the epidemic

    Aluminum prices continue to run under pressure and pay attention to the inflection point of the epidemic

    • Last Update: 2022-12-25
    • Source: Internet
    • Author: User
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    Aluminum prices rebounded
    Yesterday's main contract 2206 opened at 19845 yuan / ton, the intraday market all the way up, touched 20320 yuan / ton, returned to 20000 yuan / ton above the line, and finally closed at 20265 yuan / ton, up 420 yuan / ton from the previous trading day's closing price, an increase of 2.

    Aluminum prices

    In terms of the epidemic, on May 10, Shanghai added 228 local confirmed cases of new coronary pneumonia and 1,259 local asymptomatic infections, and the social aspects of 8 districts and some streets and towns in Pudong have been basically cleared
    With the further achievements of Shanghai's epidemic prevention and control, some of the main bears began to profit after Shanghai aluminum hit a new low since New Year's Day, driving aluminum prices to stop falling and rebound, and spot quotations actively rose by more than
    500 yuan.
    According to customs data in April, the export volume of unwrought aluminum was about 596,900 tons, an increase of 0.
    42% month-on-month and 36.
    49% year-on-year, and the export volume of unwrought aluminum and aluminum products from January to April 2022 was 2.
    2252 million tons, an increase of 29.
    from January to April last year.

    In terms of inventory, the social inventory of electrolytic aluminum decreased slightly month-on-month, and overseas inventory fell to about 550,000 tons, which is at a historical low
    As of May 9, domestic aluminum ingot stocks were 1.
    03 million tons, down 03,000 tons
    from the previous week.
    As of May 11, LME aluminum stocks fell by 0.
    635 million tons from the previous session to 553,900 tons

    From the supply side, SMM statistics maintained the cost of electrolytic aluminum at 17320 yuan / ton in April, the current profit still has space, and the short-term aluminum plant will maintain the original production increase plan; On the demand side, the scale of resumption of work and production after the epidemic has rebounded, and market confidence has increased
    In terms of price, it is expected that short-term aluminum prices will maintain a volatile trend, and domestic electrolytic aluminum prices are still a repairing rebound after a continuous decline, and the real reversal also requires confidence stability under the epidemic, especially the signal of strong recovery in terminal demand links such as real estate and automobiles

    Under the background of the current macro sentiment without a clear improvement, most of the industrial product transactions are mainly suppressing profit margins, and it is recommended to pay attention to the average cost support
    of industries around 19,000.
    It is expected to operate in the range of 19,000-21,000 next week, and aluminum prices are expected to continue to operate under pressure until the inflection point of the epidemic

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