echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > Downstream consumption is expected to be good, and the high level of Shanghai aluminum fluctuates strongly

    Downstream consumption is expected to be good, and the high level of Shanghai aluminum fluctuates strongly

    • 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

    Last week, the trend of Shanghai aluminum showed a high volatility trend, and the end of the day rose, as of Friday afternoon, the main 2203 contract closed up to 22840, an increase of 0.
    75%; From the current macro news, the Russian-Ukrainian conflict has advantages and disadvantages on aluminum, and considering the European energy crisis that has continued years ago, the production reduction disturbance superimposed on the Russian-Ukrainian conflict undoubtedly highlights the global aluminum supply shortage problem, and the market is still mostly bullish
    .
    In the domestic market, the relatively low level of the social treasury has some support below the price, and the peak season is coming, and downstream consumption is expected to be good
    .

    Shanghai aluminum

    Last week, Lun aluminum rose again, rising as high as $3282 / ton, narrowly breaking the 3300 mark, and as of Friday, the cumulative increase was close to 2%; The turmoil in Russia and Ukraine during the week triggered a sharp reaction in the market, but the feedback to the aluminum market brought more disturbances on the supply side of aluminum, which was conducive to the rise in aluminum prices to a certain extent; In addition, the market reacted to the interest rate hike flat, and the expected regulation may be difficult to disturb the aluminum market
    .

    In terms of the market, the holders of stable shipments, the market supply is abundant, because some manufacturers have not entered the market at the beginning of this week, dragging down consumption, electrolytic aluminum inventory has accumulated slightly, but with the Lantern Festival, downstream enterprises started work to return to normal, coupled with peak season consumption expectations, it is expected that electrolytic aluminum inventory or will be transferred to storage
    again.

    East China, Guangxi aluminum plant has basically returned to normal, the market on the supply side speculation sentiment has decreased, coupled with the deterioration of the situation in Russia and Ukraine, the market risk aversion has heated up, last week aluminum prices first fell and then rose, the overall performance down, as of Friday, East China spot aluminum prices between 22700-22740 yuan / ton, down 340 yuan / ton, the current spot is basically in a flat water state
    .

    In South China, as of Friday, the price of Foshan Nanhai aluminum ingot tickets was between 23020-23120 yuan / ton, down 290 yuan / ton from the previous month, which was more resistant to decline
    than East China.
    After the resumption of work of downstream enterprises, the purchasing sentiment was higher, and the market transaction was significantly better than the previous week
    .

    Last week, aluminum prices showed a strong trend at a high level, with the main force of Shanghai aluminum rising by 0.
    75% and Lun aluminum rising by nearly 2%; Russia-Ukraine geopolitics continued to affect the trend of aluminum prices during the week, but on the whole, supply disturbances are still the focus of the market, under the global "stock crisis", there will still be some room for aluminum prices to rise, and prices are expected to continue to fluctuate strongly
    next week.

    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.