echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > Demand margin weakened, and the main force of Shanghai aluminum fluctuated at a low level

    Demand margin weakened, and the main force of Shanghai aluminum fluctuated at a low level

    • Last Update: 2022-12-22
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    On Thursday, the main 2108 contract of Shanghai aluminum fluctuated at a low level, with a maximum of 18,970 yuan / ton, a minimum of 18,970 yuan / ton, and a close of 18,755 yuan / ton, down 0.
    74% from the previous trading day's closing price; LME aluminum volatility is weak, as of 15:00 Beijing time, 3-month Lun aluminum is at 2488 US dollars / ton, down 18 US dollars
    from the previous session.

    Shanghai aluminum

    Market focus: (1) China 6063 aluminum rod spot inventory (10,000 tons): Foshan 5.
    75, Wuxi 1.
    8, Nanchang 2.
    5, Changzhou 1.
    3, Huzhou 1.
    45, Chengdu 0.
    2, Gongyi 0.
    4, Luoyang 0, total 13.
    4, up 0.
    15
    from this Monday (July 5).

    Spot analysis, spot A00 aluminum reported 18820-18840 yuan / ton, the average price was 18820 yuan / ton, down 20 yuan
    daily.
    The holder was unable to support the price, the receiver continued to buy at a low price, the enthusiasm of large households to receive the goods was average, and the overall transaction was not good
    .

    Warehouse receipt inventory: Shanghai aluminum warehouse receipts totaled 72245 tons, an increase of 2877 tons per day; LME stocks were 1,517,200 tonnes, down 9,075 tonnes
    per day.

    Main positions: the top 20 long positions of the main 2108 contract of Shanghai aluminum held 132095 lots, minus 2720 lots per day, short positions 125604 lots, decreased 4992 lots per day, and net long positions were 6491 lots, an increase of 2633 lots
    per day.
    Long and short decrease, net increase
    increase.

    Market research and judgment: Shanghai aluminum 2018 contract opened low and volatile
    .
    The dollar index edged higher
    on Wednesday, according to the minutes released by the Fed, which showed that Fed members raised their expectations for economic growth and inflation, with the prevailing view that the pressure would ease in the coming months, although inflation would surge to 3.
    4% this year.
    Recently, the supply in Yunnan has recovered, and the operating capacity is expected
    to increase marginally.
    In addition, with the arrival of the off-season of consumption, the marginal demand weakened, the downstream aluminum rod processing fee weakened, and the inventory of aluminum rod also increased
    .

    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.