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Overnight, the Shanghai aluminum shock weakened
.
The aggravation of the epidemic in Europe means that the European economic recovery is expected to be hindered, and the weakening of the euro has also stimulated the rise of the US dollar, bringing some pressure
to the derivatives market.
However, the impact is much smaller than at the beginning of the year, the impact is shorter, and the heavier the impact of the epidemic, the longer the time, whether it is monetary policy or fiscal stimulus in Europe and the United States, it is not a bad thing for the derivatives market in the medium term, and the current market also intends to adjust the overly bullish sentiment
.
In terms of the market, the domestic spot aluminum price fell on December 22, and the spot AOO aluminum ingot price of Yangtze River Nonferrous Network was 16350 yuan / ton, down 180 yuan; The price of Chinalco East China AOO aluminum ingots was 16350 yuan / ton, down 190 yuan
.
Recently, power cuts in many places in China, environmental protection production restrictions in Henan, and power rationing measures in Zhejiang have led to a decline in the output of some downstream enterprises, while the operating capacity of electrolytic aluminum is still in an upward stage, and it is expected that spot aluminum prices will fall
today.
From a fundamental point of view, the second phase of Yunnan Shenhuo began to be powered and put into operation, and it is expected to release only part of the production capacity within the year, while Yunaluminum Haixin also received news that some production capacity was reduced due to power problems, and the overall production capacity release in December was limited
.
In terms of demand, supported by export orders, seasonal factors do not weaken demand significantly
.
Inventories still fell slightly on Monday, and there were fewer warehouse receipts, and there was limited
room for aluminum prices to pull back.
