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    Home > Chemicals Industry > New Chemical Materials > Shanghai aluminum has not continued to rush up in the past two days, and it is expected that the short-term shock will be strong

    Shanghai aluminum has not continued to rush up in the past two days, and it is expected that the short-term shock will be strong

    • Last Update: 2022-12-29
    • Source: Internet
    • Author: User
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    On Wednesday, the main 2301 contract of Shanghai aluminum fluctuated above Wanjiu, opening 19220 yuan / ton in the day, high 19375 yuan / ton, closing at 19140 yuan / ton, down 70 yuan / ton, -0.
    36%, Shanghai aluminum slightly higher
    in overnight trading.
    Lun aluminum continued to fall slightly, closing at $2503 / ton, up $3 / ton
    .

    Shanghai aluminum

    In terms of the market, the average price of spot Yangtze River was 19,420 yuan / ton, up 10 yuan / ton, and the premium for the month was 35
    .
    The average spot price of Nanchu is 19410 yuan / ton, flat, and the premium for the month is 25 yuan / ton
    .
    Holders in the spot market are actively shipping, and the downstream is still feeling that the price is higher, and the transaction is weak
    .

    At the macro level, the Political Bureau of the CPC Central Committee held a meeting to analyze and study the economic work
    in 2023.
    The meeting pointed out that next year, we must adhere to the principle of steadiness and progress, continue to implement a proactive fiscal policy and a prudent monetary policy, strengthen the coordination and cooperation of various policies, optimize epidemic prevention and control measures, and form a joint force
    to promote high-quality development.
    Eurozone final GDP in the third quarter rose 2.
    3% year-on-year and 0.
    3% month-on-month, both revised upwards from the initial value
    .

    Industry news, the latest data from the General Administration of Customs shows that in November 2022, China exported 455,500 tons of unwrought aluminum and aluminum products, -10.
    55% year-on-year and -4.
    9%
    month-on-month.
    From January to November, the cumulative export was 6.
    1319 million tons, a cumulative increase of 21.
    3%
    year-on-year.

    Overall, aluminum prices have not continued to rise in the past two days and began to fluctuate, downstream consumption wait-and-see sentiment is stronger, spot premium East China quickly fell back to around 30 yuan / ton, Gongyi even a large discount
    .
    However, the inventory of near-delivery warehouse receipts has not yet clearly increased, the structure of the near month contract back is expanded, and the possibility of soft forced positions is not ruled out in the coming week, although the fundamental supply and demand are weak, but the bottom inventory bottom warehouse receipt state may give some support to the aluminum price in the structure, and it is expected that Shanghai aluminum short-term strong shock
    .
    Or continue to pay attention to the calm of macro sentiment, aluminum prices return to the fundamental time node
    .

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