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Shanghai aluminum shock is strong, peak season consumption is still strong

 Last Update: 2022-12-22
 Source: Internet
 Author: User

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Today's Shanghai aluminum main month 2107 contract opened at 18595 yuan / ton, the highest intraday 19020 yuan / ton, the lowest 18565 yuan / ton, settled 18820 yuan / ton, and closed at 18825 yuan / ton, up 95 yuan
.
Today's Shanghai aluminum shock is strong, peak season consumption is still strong, social inventory is steadily degrading, power rationing upgrades affect supply, and fundamentals provide support
.

Shanghai aluminum

Today coincides with the UK Spring Bank Holiday, the LME market is closed without data updates, and trading resumes on Tuesday, June 1
.

In terms of the market, today's spot trading price of Yangtze River is 18750-18790 yuan / ton, down 30 yuan; Guangdong South Reserve reported 18890-18950 yuan / ton, down 50 yuan; Hua reported 18870-18890 yuan / ton, down 40 yuan
.
Holders are reluctant to sell, the willingness to purchase is low, the enthusiasm of large households to receive goods is acceptable, and the transaction activity is average
.

In terms of news, the lack of electricity in Yunnan has worsened, and if the drought situation does not improve, the impact may still be further expanded; The last period of aluminum inventory fell by 5556 tons to 329572 tons last week, aluminum ingot social inventory also fell further, spot aluminum prices are expected to rise
.

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