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    Home > Chemicals Industry > New Chemical Materials > Pre-holiday accumulation is less than expected Uncertainty still exists during the long holiday in Shanghai

    Pre-holiday accumulation is less than expected Uncertainty still exists during the long holiday in Shanghai

    • Last Update: 2022-12-21
    • Source: Internet
    • Author: User
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    Today's Shanghai aluminum main month 2103 contract opened at 15865 yuan / ton, the highest intraday 15950 yuan / ton, the lowest 15760 yuan / ton, settled 15860 yuan / ton, and closed at 15900 yuan / ton, up 50 yuan
    .
    Today's Shanghai aluminum is strongly volatile, the pre-holiday accumulation is less than expected, the margin of demand decline is narrowing, and uncertainty still exists
    during the long holiday.

    Shanghai aluminum

    Today, LME three-month aluminum was quoted at $2,071 / ton at 15:00 Beijing time, up $9.
    5, or 0.
    46%,
    from the settlement price of the previous trading day.

    In terms of the market, today's spot trading price of Yangtze River is 15750-15790 yuan / ton, up 20 yuan; Guangdong South Reserve reported 15760-15820 yuan / ton, up 30 yuan; Hua reported 15860-15880 yuan / ton, up 30 yuan
    .
    The holiday atmosphere is strong, the enthusiasm of large households to receive goods is weak, and there are almost no transactions
    .

    In terms of stocks, LME aluminum ingot stocks decreased by 0.
    74 million tons to 1.
    3953 million tons
    on February 9.
    On February 8, domestic aluminum ingot social stocks increased by 42,000 tons from Thursday to 773,000 tons
    .

    The market trading is almost completely absent near the holiday season, and the fundamentals have not changed much
    .
    The Inner Mongolia Development and Reform Commission issued a notice on adjusting the electricity price policy, strictly in accordance with national regulations for the implementation of differential electricity price policy for eight industries of electrolytic aluminum, ferroalloy, calcium carbide, caustic soda, cement, iron and steel, yellow phosphorus and zinc smelting, which provided certain support for aluminum prices and increased the confidence of holders in holding prices, while the overall inventory maintained the accumulation trend
    。 On the supply side, the supply side of electrolytic aluminum has maintained a steady rise, but it is worth noting that scrap aluminum recycling companies have begun to take holidays one after another, downstream automotive alloy ingot demand is strong, January automobile sales maintained a growth trend, scrap aluminum overall tight, overall, aluminum inventory is still at a relatively low level, and overseas orders are still picking up month-on-month, in good consumption expectations, aluminum prices are expected to support strongly
    .

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