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    Home > Chemicals Industry > New Chemical Materials > Shanghai aluminum volatility is strong, and there is support in fundamentals

    Shanghai aluminum volatility is strong, and there is support in fundamentals

    • Last Update: 2022-12-21
    • Source: Internet
    • Author: User
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    Today's Shanghai aluminum main month 2106 contract opened at 18160 yuan / ton, the highest intraday 18425 yuan / ton, the lowest 18105 yuan / ton, settled 18255 yuan / ton, and closed at 18355 yuan / ton, up 180 yuan
    .
    Today's Shanghai aluminum shock is strong, the afternoon rise has expanded, the traditional consumption season is coming, has established a destocking inflection point, electrolytic aluminum supply growth is tightening, and there is support for fundamentals
    .

    Shanghai aluminum

    Today, LME three-month aluminum opened higher and higher, LME three-month aluminum Beijing time at 15:01 at 2378.
    5 US dollars / ton, up 20 US dollars, or 0.
    85%,
    from the previous trading day's settlement price.

    In terms of the market, today's spot trading price of Yangtze River is 18200-18240 yuan / ton, up 30 yuan; Guangdong South Reserve reported 18210-18270 yuan / ton, up 10 yuan; Hua reported 18300-18320 yuan / ton, up 30 yuan
    .
    Holders sell at a high price, the willingness to receive goods is not strong, the enthusiasm of large households to receive goods is average, and the transaction performance is average
    .

    In terms of fundamentals, this week's domestic social inventory decreased by another 50,000 tons from the previous week to 1.
    194 million tons, and the pace of inventory decline this week remained relatively fast, and short-term aluminum ingot stocks are expected to continue to decline
    .
    There is a certain risk of pullback in the short term after the consolidation of high aluminum prices, but the inventory acceleration downward support prices, aluminum prices may maintain strong shocks, in addition to medium and long-term strong fundamentals also support prices
    .

    Under the current historical absolute high price, the short-term rapid rise makes it take time to digest the downstream, and the suppression of consumption is obvious, or the price has fallen
    .
    However, under the strong performance of domestic rigid demand and the continuous recovery overseas, the high foundation of aluminum prices is solid, maintaining a strong volatility
    .

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