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    Home > Chemicals Industry > New Chemical Materials > Downstream consumption shows a recovery trend, and the probability of aluminum price volatility is strong

    Downstream consumption shows a recovery trend, and the probability of aluminum price volatility is strong

    • Last Update: 2022-12-09
    • Source: Internet
    • Author: User
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    On Thursday morning, the main contract of Shanghai aluminum opened at 14350 yuan / ton, the bears actively pressured at the beginning of the session, aluminum prices were under pressure and leaked, the low touched 14240 yuan / ton, and then a narrow range fluctuated at the 5-day moving average, and in the afternoon, bulls again concentrated a wave of entry, pushing Shanghai aluminum back above the daily moving average, recovering the 5-day moving average, closing at 14325 yuan / ton
    .

    Aluminum prices

    In terms of external trading, Lun aluminum opened at 2245 US dollars / ton in the morning, the domestic metal trend during the Asian session is not good, Lun aluminum is also weak down, entering the European trading session, LME announced that aluminum inventories increased sharply by more than 90,000 tons to 1.
    25 million tons, and February European industrial output data was less than expected, boosting the dollar soaring, base metals under pressure to leak, Lun aluminum accelerated the downward low to touch 2203 US dollars / ton, basically gave up yesterday's gains, as of 17:37, Lun aluminum reported 2213.
    5 US dollars / ton, It is expected that a large number of RUSAL aluminum ingots will continue to be delivered before April 17, and the LME aluminum 0-3 contract spread under the Contango structure has room
    to further expand.

    In terms of spot, the Shanghai transaction concentration is 14170~14180 yuan / ton, the discount for the current month is 70~60 yuan / ton, and the discount for the next month is 40~30 yuan / ton
    .
    Wuxi transaction concentration is 14170~14180 yuan / ton, Hangzhou transaction concentration is 14170~14190 yuan / ton
    .
    Cargo holders shipped steadily, the shadow of war put pressure on commodity prices, middlemen cautiously received goods, downstream enterprises still purchased according to just demand, and the overall transaction was poor
    .
    In the afternoon, the transaction price in East China was 14180~14190 yuan / ton
    .

    Market News:

    1.
    Malaysia, one of the world's largest bauxite producers, has resumed bauxite exports to China since November last year; In February 2018, Malaysia's bauxite exports to China shrank
    significantly.

    2.
    Turkish Economy Minister Nihat Zeybekci recently said that US President Donald Trump's
    decision last month to impose 25% tariffs on all imported steel and 10% tariffs on all imported aluminum products is unacceptable to Turkey.

    In terms of news, Bloomberg quoted people familiar with the matter that due to the US sanctions against Rusal, some of the alumina orders of Russia's United Aluminum Industry will be unable to perform due to force majeure factors, the recent strengthening of foreign alumina prices, the continuation of strong aluminum prices also supported the price of Shanghai aluminum, in addition, the current domestic social inventory continues to decline and the spot end discount narrows, downstream consumption shows a recovery trend, aluminum futures price shock probability is larger
    .
    Operationally, it is appropriate
    to wait and see for the time being in the Shanghai copper 1806 contract.
    The Shanghai aluminum 1806 contract can consider the dip short, the position is within 5%, and set a stop loss
    .

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