echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > Shanghai aluminum fell slightly, and the momentum in the market is still insufficient after that

    Shanghai aluminum fell slightly, and the momentum in the market is still insufficient after that

    • Last Update: 2022-12-16
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    On Monday, the main monthly 1907 contract of Shanghai aluminum opened at 14165 yuan, with an intraday high of 14220 yuan and a low of 14100 yuan, and closed at 14125 yuan at the end, down 25 yuan / ton
    from the previous trading day.
    The weak performance of domestic manufacturing data caused market demand outlooks, Shanghai aluminum fell slightly during the day, and it is expected that the market momentum will still be insufficient in the future, and it is recommended that investors can maintain a wait-and-see
    first.

    Shanghai aluminum

    Externally, the continued decline in crude oil prices on Monday dragged down sentiment in the commodity market, with London aluminum falling slightly, and support below focusing on $
    1,700.
    At 15:38 Beijing time, LME 3-month aluminum was $1793.
    5, down $0.
    5/ton
    from the previous session.

    In terms of the market, the spot trading price of Yangtze River was 14160-14200 yuan / ton, down 10 yuan / ton; Guangdong South Reserve reported 14190-14290 yuan / ton, unchanged; Hua reported 14260-14280 yuan / ton, down 10 yuan / ton; The average domestic spot trading price is between
    14160-14200 yuan / ton.
    Intraday aluminum fell slightly, and holders shipped positively, but downstream companies maintained wait-and-see, and the market transaction was average
    .

    In terms of news, the rise in alumina prices has been somewhat converged, mainly under the confirmation of overseas Hydro resumption of production, the global alumina supply is facing a loose situation, so that the strong alumina market in the early stage has been cooled to a certain extent, but the short-term strength of alumina prices cannot be reversed, and it is expected to show a situation of near high and far low
    .
    The price of pre-baked anodes is also rising under the rising cost of raw materials, making the cost of electrolytic aluminum increase
    repeatedly.

    Industry News:

    1.
    Take the two electrolytic aluminum industries of Linfeng Aluminum Power and Zhongfu Aluminum Industry as an opportunity to continuously accelerate the development of downstream aluminum products and aluminum profile industries, and truly launch the famous brand of aluminum industry in the Economic Development Zone and the signboard
    of the national recycled aluminum industrial park.

    2.
    In order to make the company's alumina project production achieve large-scale benefits, strengthen the company's industry competitiveness, improve its market position, and enhance the profitability of BAI Company, the company intends to continue to invest in the expansion of BAI Company's alumina construction project
    in the future.

    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.