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    Home > Chemicals Industry > New Chemical Materials > Shanghai aluminum shock downward price trend lacks strong support

    Shanghai aluminum shock downward price trend lacks strong support

    • Last Update: 2022-12-21
    • Source: Internet
    • Author: User
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    Today's Shanghai aluminum main month 2103 contract opened at 14925 yuan / ton, the highest intraday 14970 yuan / ton, the lowest 14720 yuan / ton, settled 14825 yuan / ton, and closed at 14745 yuan / ton, down 185 yuan
    Today's Shanghai aluminum shock downward, 2020 aluminum production and imports are recorded, Lun aluminum inventory soared to refresh a two-month high, aluminum prices lack strong support

    Shanghai aluminum

    In the external market, today's Lun aluminum volatility downward, LME three-month aluminum Beijing time at 15:00 at 1962.
    5 US dollars / ton, down 7.
    5 US dollars, or 0.
    from the previous trading day's settlement price.

    In terms of the market, today's spot trading price of Yangtze River was 14800-14840 yuan / ton, down 240 yuan; Guangdong South Reserve reported 14820-14880 yuan / ton, down 310 yuan; Hua reported 14920-14940 yuan / ton, down 230 yuan
    Holders are active in shipments, large households are generally active in receiving goods, the willingness to receive goods is not strong, and the transaction activity is average

    Industry news, data from the General Administration of Customs showed that China's aluminum imports in December increased by 40.
    5% from the previous month, stopping a three-month downward trend and hitting a record high
    in 2020.
    Arrivals for the full year of 2020 were 2.
    7 million tonnes, an increase of 318.
    over 2019.

    In terms of fundamentals, the domestic epidemic rebounded, and logistics restrictions were strengthened in the northern region, affecting downstream construction and aluminum ingot shipments; In winter, consumption slowed down in the north, some rod factories stopped production, and the amount of ingots increased; Electrolytic aluminum production continued to expand, and consumption slowed down significantly

    At present, the epidemic risk has escalated, consumption is restricted, spot transactions are weak, accumulation is advanced, inventory and warehouse receipts have rebounded, and the short-term rebound is expected to be limited due to limited
    arrival restrictions and stable rebound.

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