echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > July 13 Shanghai aluminum noon comment

    July 13 Shanghai aluminum noon comment

    • 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

    Overnight, Shanghai aluminum oscillations were strong
    .
    Yunnan's production capacity recovery is slow, the social inventory of aluminum ingots continued to fall by 20,000 tons to 830,000 tons on Monday, the short-term gap still exists, and the destocking will continue, pay attention to the release of the second batch of dumping rules in the near future
    .
    Shanghai aluminum formed an upward channel last week, and technical indicators look at short-term volatility strongly, but the basic upward drive in the off-season is not strong
    .

    Shanghai aluminum

    On the macro front, the National Reserve plans to dump reserves for the second round, and the US non-farm payrolls data is better than expected, but Biden proposed a new infrastructure plan, and the central bank comprehensively lowered the RRR to boost market sentiment
    .

    From a fundamental point of view, the "ceiling" limit of electrolytic aluminum production capacity and the pressure of the dual carbon policy, but the power curtailment in Yunnan has ended one after another, and the pressure on the aluminum supply side has been reduced; Downstream demand has entered the off-season, and short-term demand disturbances exist, but new energy demand has grown rapidly and has improved in the long term
    .

    On the inventory side, LME aluminum destocking, Shanghai aluminum inventory is relatively stable, short-term fundamental support is insufficient, long-term view, aluminum fundamentals support is good
    .
    From a technical point of view, the price of Shanghai aluminum fluctuates in the short-term range, the downside is limited, and it is recommended to wait and see
    in the short term.

    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.