Market supply may shrink to give temporary support to aluminum prices

Today's Shanghai aluminum main month 2209 contract, opening 18250 yuan / ton, the highest intraday 18755 yuan / ton, the lowest 18245 yuan / ton, settlement 17985 yuan / ton, the end of the close to 18660 yuan / ton, up 675 yuan, up 3.
75%.

Today's Lun aluminum volatility higher, LME three-month Beijing time at 15:01 at 2430 US dollars / ton, up 33 US dollars, or 1.
38%,
from the previous trading day's settlement price.

Today's Shanghai aluminum trend is strong, intraday gains expanded, European Hydro electrolytic aluminum plant disturbance increased, or will cause its production to reduce production by 20%, domestic Sichuan electrolytic aluminum enterprises affected by the power shortage large-scale reduction to 390,000 tons, short-term aluminum supply pressure phased reduction, aluminum prices were shocked sharply, but aluminum demand has not changed for the time being, still need to be vigilant
.

In terms of the market, today's spot trading price of the Yangtze River is 18450-18490 yuan / ton, up 350 yuan, and the discount is 20-liter 20; Guangdong spot 18330-18390 yuan / ton, up 360 yuan, discount 140-discount 80; Hua reported 18510-18550 yuan / ton, up 350 yuan / ton
.
Today's aluminum market is picking up, holders are actively shipping at high prices, and the bullish atmosphere affects the downstream enthusiasm to increase, but the actual trading is not so enthusiastic, and the overall trading volume has only increased
slightly.

Industry news, it is reported that the European electrolytic aluminum Hydro's Sunndal sora may reduce production by 20% due to the strike, involving about 80,000 tons of capacity, the plant is currently built and operated about
400,000 tons.

At present, large-scale power cuts in some domestic cities push up smelting costs, resulting in large-scale production reductions in smelters, and aluminum production capacity reductions will continue to expand, resulting in market supply or contraction, while giving temporary support to aluminum prices, Shanghai aluminum rebounded within the day, and aluminum or rose
.