echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > Peak season consumption performance is strong, Shanghai aluminum cautiously chased up

    Peak season consumption performance is strong, Shanghai aluminum cautiously chased up

    • Last Update: 2022-12-21
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    Overnight, Lun aluminum rose to $2,500, and Shanghai aluminum continued to hit a new high
    .
    During the May Day period, the social inventory of aluminum ingots was the same as before the holiday, and the peak season consumption performance was stronger, but the recent resumption of production on the supply side is increasing, and the spot discount has expanded to 60 yuan to follow the rise is slightly weak
    .
    Under the macro and capital pull, the strength of Shanghai aluminum is difficult to calm down, and the early orders can continue to be held and cautiously chased up
    .

    Shanghai aluminum

    On May 6, the domestic spot aluminum price rose, and the spot AOO aluminum ingot price of Yangtze River Nonferrous Metal Network was reported at 19150 yuan / ton, up 310 yuan; The price of Chinalco East China AOO aluminum ingots was 19150 yuan / ton, up 320 yuan
    .
    The tension between China and Australia may affect the supply of raw materials, Australia is the world's main bauxite and alumina producer, the domestic traditional consumption season just needs to promote the continuous destocking of inventory, electrolytic aluminum plants have been in a state of basic full production, and spot aluminum prices are expected to rise
    today.

    For the current trend of aluminum prices, the continued bullish psychology is still more obvious, but the cautious mentality is more obvious with the continuous rise of aluminum prices, especially in the case of continuous warning at the top level, and the regulatory risk at the policy level has become one of the important factors of the
    current market uncertainty risk.

    Looking forward to the future market, aluminum prices will continue to remain high under the expectation of reductions caused by carbon neutrality policies, but at the same time, the risk of price correction is not ruled out by the fact that the dumping has not yet
    landed.
    With the rapid rise of aluminum prices, the pace of downstream stocking may be lengthened and relatively cautious, which is not conducive to the smooth transmission of aluminum prices in the industrial chain, so it is expected that domestic electrolytic aluminum will continue to maintain a slight destocking trend, but the destocking rate may be difficult to increase
    .
    At the same time, the electrolytic aluminum industry in May and June may usher in a concentrated production period, or usher in a boom
    in supply and demand.
    Overseas, they continue to pay attention to vaccination and epidemic control
    .
    In the short term, aluminum prices remain strong under the rise of macro sentiment, and the pace and operation still need to be cautious, and a pullback
    is not excluded.

    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.